Compre builds out medical malpractice insurance book on Covéa purchase

Bermuda-based re/insurance legacy specialist  Compre will buy the Irish medical malpractice subsidiary of  Covéa, Medical Insurance Company DAC (MIC), which had entered into run-off in 2015.

Compre called the deal “a further significant step” in Compre’s efforts to build out medical malpractice (MedMal). The deal remains subject to regulatory approvals.

Compre launched its European drive into medical malpractice with purchase of a run-off hospital liability portfolio from Swiss insurer Baloise in a deal announced mid-August and followed up with a second announcement on an unspecified book just over one week later.

Simon Hawkins, CEO Europe said: “I am delighted to announce our third acquisition of European MedMal legacy liabilities this year. This transaction further demonstrates our client-focused approach, where we worked closely with Covéa to ensure their objectives were realised. We look forward to working with the MIC team and providing best in class claims service to MIC’s policyholders.”

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