Compre, the international specialist legacy group, today announces the completion of its acquisition of a US$417 million legacy liability portfolio of SiriusPoint Ltd. (NYSE: SPNT) (“SiriusPoint”), having received all necessary regulatory approvals.
The transaction, structured as a loss portfolio transfer, has been underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company Ltd. (“Pallas Re”). The portfolio comprises asbestos, environmental, and workers’ compensation liabilities.
Compre CEO Will Bridger said: “I am extremely pleased to announce the completion of our transaction with SiriusPoint, which is another milestone for Compre in further building our presence in the US market. This transaction also demonstrates our growing capabilities and capacity, while continuing to provide a bespoke service to our clients.”