Compre, the insurance and reinsurance legacy specialist, has provided a legacy solution to a portfolio of AXA Insurance.
The portfolio of insurance and reinsurance business in run-off was underwritten by RW Gibbon, an underwriting agency, and RW Gibbon & Son, the Gibbon pools, between 1962 and 1964.
Compre has provided ACA with finality regarding its participation in the Gibbon pools for an undisclosed sum.
Nick Steer, CEO of Compre, said: “I am extremely pleased to announce our sixth acquisition this year and our third involving the Gibbon pools. This follows a similar deal with Swiss Re International SE in January and fulfils our ambition of completing another pool-arrangement transaction this year.”
He added: “It underlines the demand for run-off solutions, and our expertise in providing finality for complex pool arrangements, and further highlights our excellent reputation among large European insurance groups.”
