Compre Group Holdings, the Bermudian-based international specialty reinsurance group, has entered into an adverse development cover transaction with a European-domiciled reinsurance entity, providing protection for a diversified portfolio of motor, engineering and liability business.

Compre said the transaction covers an assumed reinsurance book spanning underwriting years 2018 to 2024, with net reserves of approximately £250 million (approximately $336 million).

The bespoke ADC structure has been designed to deliver capital and earnings protection for the cedant while aligning the interests of both parties over the life of the portfolio. The transaction includes a renewable mechanism that provides optional coverage for future underwriting years.

Rachel Bardon, chief underwriting officer of Compre, said: “This transaction demonstrates our ability to deliver tailored retrospective capital solutions to reinsurers seeking protection against adverse development while maintaining operational control.

“We are pleased to support our client with a structure that aligns interests and provides flexibility for the future.”

Compre said the transaction strengthened its position as “a leading provider of structured reinsurance solutions across the European market”.