Compre, the international specialist legacy group, has redomiciled to Bermuda under the supervision of the Bermuda Monetary Authority.

The move to Bermuda is the culmination of Compre’s diversification strategy to broaden its market focus from Europe to include Lloyd’s of London and North American legacy markets.

Simultaneously, Simon Hawkins, the group chief operating officer of Compre, has been appointed to the new role of chief executive officer, Europe.

Mr Hawkins’ responsibilities will include business development and building Compre’s long-term client relationships across its core European, Lloyd’s and UK markets.

His appointment follows that of David Presley as CEO, North America, in April, giving Compre two divisional CEOs with responsibility for developing the business in these respective jurisdictions.

Will Bridger, Compre group CEO, said: “Our move to Bermuda is a further milestone for Compre and reflects the broader international nature and expertise of our organisation, the jurisdiction of the insurance liabilities on our balance sheet and the concentration of business within geographic risk-bearing entities.

“Our thanks to the Malta Financial Services Authority for their support over the past five years and we look forward to working closely with the BMA as our business grows across our markets.”

Mr Bridger was delighted by the appointment of Mr Hawkins.

“To date, as group COO, Simon’s role has been focused on building and developing our operating platform,” he said.

“In his new role, he will be market facing, focusing on client and business development and building our strong client-service focus as we execute legacy deals in Europe and Lloyd’s.”

The group is a legacy specialist with more than 30 years of experience in the provision of insurance and reinsurance legacy business solutions.

This involves the acquisition and management of insurance and reinsurance companies and portfolios in run-off, the acquisition of legacy business portfolios and the provision of legacy business reinsurance solutions.

During 2021, the group concluded new legacy deals, further strengthening its position in the run-off insurance and reinsurance market, and established its Lloyd’s syndicate.