Compre acquires employees’ comp legacy portfolio

Compre Group Holdings, a world legacy group headquartered in Bermuda, has introduced that it has signed agreements to amass a employees’ compensation legacy portfolio from SUNZ Insurance coverage Firm.

The portfolio is made up of large-deductible and guaranteed-cost employees’ compensation insurance policies, Compre mentioned.

The transaction has been permitted by the Bermuda Financial Authority. It’s structured as a loss portfolio switch and has been underwritten by Pallas Reinsurance Firm, Compre’s class 3B Bermudian reinsurer.

“We’re very happy to announce the signing of this transaction, which was notably enticing given SUNZ’s observe file of fantastic underwriting, robust claims dealing with and skilled administration group,” mentioned David Presley, CEO of Compre North America. “Compre has a long time of expertise in employees’ compensation and we proceed to construct on this as a middle of excellence inside our enterprise. We look ahead to persevering with our partnership with SUNZ to assist their growth and strategic development, and stay centered on collaborating intently with all our purchasers to assist obtain their targets.”

“This LPT supplies SUNZ with probably the most environment friendly resolution to assist our development projections,” mentioned Jeffrey Marshall, chief monetary officer and government vice chairman at SUNZ. “We recognize Compre’s professionalism and partnership method all through this course of, together with their robust focus and experience in offering employees’ compensation insurance coverage options.”

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