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Compre to acquire captive insurer Equinox CA Europe

IBR Staff Writer Published 13 June 2017

Insurance and reinsurance legacy firm Compre has agreed to acquire Equinox CA Europe for an undisclosed price.

Equinox CA Europe is a captive insurer of global engineering and construction giant SNC-Lavalin.

Based in Ireland, Equinox CA Europe insured the activities of the French business of SNC-Lavalin between 2008 and 2016 until the subsidiary was divested by the conglomerate.

Equinox CA is Compre's first acquisition in Ireland and it is also its first purchase of a captive insurer.

Compre says that its latest acquisition showcases its flexibility to make necessary adjustments to comply with new jurisdictions and also the ability to complete a diverse array of legacy transactions successfully.

Compre CEO Nick Steer said: “This is our 11th company acquisition, which highlights Compre’s technical and creative ability to meet the spectrum of legacy owner needs and to address the issues some entities now face as Solvency II pressures come to the surface.

“It is further proof of our excellent reputation in the legacy field and Compre is in a strong position and looking forward to further transactions this year and beyond.”

Equinox CA marks the fourth acquisition this year for the insurance and reinsurance legacy specialist.

Completion of its acquisition is based on the receipt of a regulatory approval from the Central Bank of Ireland, stated Compre.

Earlier this year, Compre agreed to acquire all of the insurance and reinsurance business in run-off of the UK branch of AG Insurance for an undisclosed sum.

The company has also agreed to buy Wüstenrot & Württembergische (W&W) AG’s Ridgwell Fox & Partners (RFP) pool legacy reinsurance business.

Image: Compre to takeover Equinox CA Europe. Photo: courtesy of adamr/FreeDigitalPhotos.net.