Compre acquires workers’ comp legacy portfolio

Compre Group Holdings, an international heritage group headquartered in Bermuda, announced that it has signed agreements to acquire a portfolio of heritage workers’ compensation from SUNZ Insurance Company.

The portfolio is comprised of high deductible and guaranteed cost workers’ compensation policies, Compre said.

The transaction was approved by the Bermuda Monetary Authority. It was established as a transfer of loss portfolio and underwritten by Pallas Reinsurance Company, Compre’s class 3B Bermudian reinsurer.

“We are very pleased to announce the signing of this transaction, which is particularly attractive given SUNZ’s track record of excellent underwriting, strong claims management and experienced management team,” said David Presley, CEO of Compre North America. “Compre has decades of workers’ compensation experience and we continue to build it as a center of excellence within our business. We look forward to continuing our partnership with SUNZ to support their expansion and strategic development, and remain focused on working closely with all of our clients to help achieve their goals.

“This LPT provides SUNZ with the most efficient solution to support our growth efforts,” said Jeffrey Marshall, SUNZ’s chief financial officer and executive vice president. “We appreciate Compre’s professionalism and collaborative approach throughout the process, including their strong focus and expertise in providing workers’ compensation insurance solutions.”

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