Compre takes over further legacy portfolio from AG

Compre, the independent legacy specialist, has agreement to transfer an inwards reinsurance portfolio from AG Insurance for an undisclosed sum.

The Belgian insurer’s portfolio comprises business in run-off across a range of lines and territories, predominantly the United States. The transaction, which is subject to approval by the National Bank of Belgium, is Compre’s second with AG, after it acquired AG’s UK branch business in January 2017.

Will Bridger, chief executive of Compre, said: “I am extremely pleased to announce the conclusion of our second transaction with AG Insurance. Compre has delivered finality across a variety of jurisdictions for this highly reputable and long-established business, further highlighting our excellent reputation among large European insurance groups.”