Compre has finalised a deal to take on the insurance and reinsurance run-off books of the UK branch of Belgium's AG Insurance.
The European legacy acquirer will undertake a loss portfolio transfer before it assumes the business, subject to approval from regulators in Belgium, Finland and the UK.
The buyer said the deal would provide AG Insurance with complete finality in relation to its UK branch business, but didn't disclose the terms of the transaction.
Compre CEO Nick Steer noted...
If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership