Compre, an international legacy group headquartered in Bermuda, acquires hospital responsibility [MedMal] The portfolio of German insurance company Basler Sachversicherungs-AG, a subsidiary of the Baloise Group, is subject to regulatory approval by the German Federal Financial Supervisory Authority.
A spokesperson said: The portfolio has been in run-off for several years as it primarily consists of his underwriting from 2004 to his 2018. The transaction, which is expected to close by the end of 2022, includes Basler’s hospital debt portfolio with approximately EUR 200 million in technical debt.
“Subject to relevant regulatory approvals, the portfolio will be fully transferred to Compre’s Finnish subsidiary, Bothnia International Insurance Company Ltd. Compre will work closely with Detmold-based Ecclesia Group Assekuranz Service GmbH. , will continue to provide claims support to existing customers, ensuring a smooth continuation of service to policyholders.
“In addition, Compre also recently completed the sale of two tranche loss portfolios. [LPT] For non-disclosed European insurers, the second tranche covers unexpired risks on a pre-determined basis. This is the first time Compre has underwritten two tranches of his LPT, a forward LPT pre-packaged to provide additional future income while providing greater certainty to the client’s future outcome. developing a proposal. ”
CEO of Will Bridger Group said: This demonstrates Compre’s focus on customer service and the ability to provide highly tailored solutions to meet specific customer needs. ”
Simon Hawkins CEO for Europe added: This is a new business class for his Compre, but it demonstrates our intention to build MedMal into an even more important specialty. ”
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