Compre and SiriusPoint (SPNT) Announce Strategic Deal
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Compre and SiriusPoint Announce Strategic Deal
August 5, 2021 4:15 PM EDTHAMILTON, Bermuda, Aug. 5, 2021 /PRNewswire/ --Â Compre, the international specialist legacy group, and SiriusPoint Ltd. (NYSE: SPNT) ("SiriusPoint") today announce that they have reached an agreement for Compre to acquire a US$417 million portfolio of legacy liabilities, subject to regulatory approval.
The transaction, structured as a loss portfolio transfer, will be underwritten by Compre's class 3A Bermudian reinsurer, Pallas Reinsurance Company Ltd. ("Pallas Re") and the portfolio comprises asbestos, environmental and workers' compensation liabilities.
Compre CEO Will Bridger said: "I am delighted to announce this strategic milestone for Compre... More
