Compre finalises acquisition of Covéa medical insurance subsidiary

"This transaction further demonstrates our client-focused approach"

Compre finalises acquisition of Covéa medical insurance subsidiary

Life & Health

By Kenneth Araullo

Bermuda-headquartered legacy group Compre has successfully concluded its acquisition of the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC). MIC specialised in offering insurance policies that covered professional medical malpractice risks and had been in run-off since 2015.

The deal was marked by Compre as a significant milestone in its ongoing efforts to establish a centre of excellence for medical malpractice in Europe. It comes on the heels of the previously approved legal transfer of a portfolio of French medical malpractice liabilities from another European insurer in July 2023.

“I am delighted to announce the completion of this transaction following regulatory approval, and I’d like to thank the Covéa and MIC teams for their ongoing collaboration. This transaction further demonstrates our client-focused approach to supporting our partners in achieving their restructuring objectives,” Compre Europe CEO Simon Hawkins said.

Earlier this year, the legacy group also announced the appointment Daniel Fiehn as its new group chief operating officer. Fiehn came to the role bringing more than three decades of experience in operational, technology, and leadership roles in global financial services.

As for Covéa, its UK subsidiary recently announced that it has joined the Group for Autism, Insurance, Investment and Neurodiversity (GAIN), underscoring its commitment to creating an inclusive workplace by taking action to support equal opportunities for all of its workforce.

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