Fleming Re Closes LPT Reinsurance With Conifer
Fleming Insurance Holdings signed a reinsurance agreement to transfer certain casualty risks of Conifer Holdings and its affiliated companies, stating that the “transaction provides significant downside protection with the objective of strengthening Conifer’s financial position.”
Fleming Re co-founder & CEO, Eric Haller, stated, “We are pleased to complete this strategic transaction with Conifer that achieved the outlined goals and was mutually beneficial. It was a pleasure working alongside Conifer and we believe both companies can leverage this on-going relationship.”
Stephen Minor, co-founder & Director also stated, “This transaction marks another milestone on Fleming’s path to diversification, building long term partnerships with cedents as we look to further standardize LPTs as an accretive financing solution for P&C carriers. We believe that recurring business is the key to building long term intrinsic value as a legacy reinsurer.”
BMS Re provided brokerage on the transaction, and legal counsel was provided by Bryan Cave Leighton Paisner LLP.
