Compre to buy Irish captive insurer Equinox CA Europe
Re/insurance legacy specialist Compre has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin.
The Ireland-based captive insured the activities of SNC-Lavalin’s business in France from 2008 until December 2016 when the subsidiary was sold.
The acquisition is Compre’s first in Ireland and its first captive.
"I am delighted to announce this latest acquisition, our fourth this year, from a leading group in its field," said Nick Steer, CEO of Compre.
"This is our 11th company acquisition, which highlights Compre’s technical and creative ability to meet the spectrum of legacy owner needs and to address the issues some entities now face as Solvency II pressures come to the surface. It is further proof of our excellent reputation in the legacy field and Compre is in a strong position and looking forward to further transactions this year and beyond."
Compre’s track record includes the acquisition of companies in run-off, transfers of legacy business portfolios, the provision of reinsurance solutions and the subsequent management and closure of run-off liabilities.
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