SiriusPoint Ltd., the Bermuda-based re/insurer, announced it has completed a ground-up loss portfolio transfer (LPT) of a portfolio of primarily reinsurance business with the legacy acquisition specialist Compre. This is the second LPT the companies have partnered on.
Compre assumed approximately $1.3 billion of reserves and the LPT has been underwritten by Compre’s class 3B Bermudian reinsurer, Pallas Reinsurance Co. Ltd. The deal was first announced in March 2023.
