January 17, 2024 – Carrick Group Limited (“Carrick”), a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, today announced that Carrick Re Limited, a Bermuda class 3A reinsurer, has entered into a loss portfolio transfer with IRB(Re), a Brazilian private reinsurance company, on behalf of its UK Branch, ahead of a Part VII transfer.
Carrick UK Services Limited will assume the UK Branch’s staff and operations as part of the transaction. Prior to going into run-off in 1983, the UK Branch had written reinsurance treaties and other London Market business for a decade.
