Compre Group Holdings Limited (“Compre”), the Bermuda-domiciled international legacy and reinsurance group, today announced it has completed a legacy reinsurance transaction with Accelerant, the data-driven risk exchange, following approval by the Bermuda Monetary Authority. The transaction, which has been underwritten by Compre’s Bermuda-based reinsurer Pallas Reinsurance Company Ltd., will provide approximately $150 million of cover on loss reserves.
The portfolio comprises a broad mix of US and European property & casualty liabilities, providing cover for Accelerant’s retention on the 2020 and 2021 underwriting years. Compre will also offer terms for future underwriting years as these become sufficiently developed.
