Premia acquires Navigators unit following run-off deal with The Hartford

Legacy and run-off insurer  Premia Holdings has acquired Navigators Holdings (Europe) in a deal with The Hartford that also brings a P&C carrier and a captive into the  Premia Group.

The deal, which closed December 29, covers Navigators Holdings (Europe) and its subsidiaries, including property/casualty insurer Assurances Continentales (known as ASCO), located in Belgium, and its captive reinsurer Canal Re, located in Luxembourg, both of which recently ceased writing new business.

Bill O’Farrell (pictured), group CEO of Premia, noted: “We are pleased to close this important transaction with The Hartford.  We will repurpose ASCO from an insurer in run-off to a provider of run-off solutions, with growth opportunities for our newest team members.  We look forward to bringing our financial strength, coupled with our operational and structuring expertise, to Continental European insurers.”

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