Log In

Reset Password

BMA approves LPT for Compre Group

First Prev 1 2 Next Last
David Presley, CEO, Compre North America

Compre Group Holdings Limited, the Bermudian-headquartered international legacy group, has signed agreements to acquire a workers’ compensation legacy portfolio of SUNZ Insurance Company for an undisclosed sum.

The transaction, approved by the Bermuda Monetary Authority, is structured as a loss portfolio transfer and has been underwritten by Compre’s class 3B Bermudian reinsurer, Pallas Reinsurance Company.

The portfolio comprises large deductible and guaranteed-cost workers’ compensation policies.

David Presley, CEO, Compre North America, said: “We are very pleased to announce the signing of this transaction, which was particularly attractive given SUNZ’s track record of excellent underwriting, strong claims handling and experienced management team.

“Compre has decades of experience in workers’ compensation and we continue to build on this as a centre of excellence within our business. We look forward to continuing our partnership with SUNZ to support their expansion and strategic growth and remain focused on collaborating closely with all our clients to help achieve their objectives.”

Jeffrey Marshall, CFO and EVP of Florida-based SUNZ, added: “This LPT provides SUNZ with the most efficient solution to support our growth projections.

“We appreciate Compre’s professionalism and partnership approach throughout this process, including their strong focus and expertise in providing workers’ compensation insurance solutions.”

The capital advisory and solutions team at Acrisure Re acted as a broker in this transaction.

Jeffrey Marshall, CFO and EVP of Florida-based SUNZ Insurance

You must be Registered or to post comment or to vote.

Published May 22, 2023 at 3:25 pm (Updated May 22, 2023 at 9:45 pm)

BMA approves LPT for Compre Group

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon