Compre acquires legacy reinsurance biz from Wüstenrot & Württembergische

Re/insurance legacy specialist Compre has acquired Wüstenrot & Württembergische's (W&W) Ridgwell Fox & Partners (RFP) pool legacy reinsurance business.

Compre has provided W&W with complete finality regarding its involvement with RFP. The transaction is approved by German regulator BaFin.

The W&W predecessor company, Württembergische Feuerversicherung, signed shares in RFP for underwriting years 1978–1986. Reinsurance pool RFP contains run-off liabilities of W&W and five other carriers.

The deal follows Compre’s recent acquisition of RW Gibbon Underwriting Agencies and the Gibbon pools from Swiss Re International, its second deal in 2017.

Nick Steer, CEO of Compre, said: “I am extremely pleased to announce our third acquisition of this year and our third involving a German counterparty, which highlights an increasing acceptance of business transfers as a viable solution available to owners of legacy portfolios across Europe.”

The acquisition represents Compre’s 24th portfolio deal and to date Compre has acquired 10 companies in run-off.

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