Compre To Acquire Irish subsidiary Of Covéa
Compre has signed agreements to acquire the Irish subsidiary of Covéa, Medical Insurance Company DAC.
A spokesperson said, “Compre, the Bermuda headquartered international legacy group, announces it has signed agreements to acquire the Irish subsidiary of Covéa, Medical Insurance Company DAC [MIC], which provided general liability insurance covering professional medical malpractice risks. MIC entered into run-off in 2015.
“The transaction represents a further significant step in Compre’s ambition to build a centre of excellence for medical malpractice [MedMal] in Europe. The transaction remains subject to appropriate regulatory approvals.”
Simon Hawkins, CEO Europe said: “I am delighted to announce our third acquisition of European MedMal legacy liabilities this year. This transaction further demonstrates our client-focused approach, where we worked closely with Covéa to ensure their objectives were realised. We look forward to working with the MIC team and providing best in class claims service to MIC’s policyholders.”
