Compre continues European growth with acquisition of medical malpractice portfolio in France

Bermuda’s Compre has acquired a French medical malpractice (medmal) portfolio in a further bid to build out its medmal expertise in Europe.

The legacy insurer said it has received the green light from regulators to acquire the portfolio via a loss portfolio transfer from an unnamed European insurer for an undisclosed sum. Compre said the portfolio is a mix of legacy, live and prospective risks through to 2023.

It follows Compre’s first move into Europe’s medmal sector earlier this month, when it acquired the hospital liability portfolio of German insurer Basler Sachversicherungs. Compre said the German acquisition marked the start of its ambitions to build on medmal portfolios in Europe, where it has operations in the UK and through Lloyd’s, Switzerland, Finland and Malta.

Simon Hawkins, Compre’s CEO for Europe, said: “We worked closely with the insurer to ensure the structure optimises capital release and provides operational finality. This transaction further demonstrates our client-focused approach, which ensured our client’s objectives were realised, and our commitment to building a centre of excellence for MedMal in Europe.”

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