Carrick buys BMSII and Seamair

Carrick Group, a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, has announced that its wholly owned subsidiary Carrick UK Holdings Company had reached agreement with Bristol-Myers Squibb Company to acquire their two Irish captive insurers. 

The duo are BMS International Insurance (BMSII) DAC and Seamair Insurance DAC.  BMSII and Seamair are both regulated by the Central Bank of Ireland.    

“Carrick is delighted to complete its first acquisition in the Irish Market ” said Phil Hernon, chief operating officer. “This type of transaction fits perfectly within Carrick’s strategy to provide solutions to the insurance market and expand global operations to include Irish subsidiaries to assist with European opportunities.  

“We would also like to thank Strategic Risk Solutions for the proactive role that they performed in assisting with the conclusion of both deals.”  

Established in 2019, Carrick has formed a non-life runoff business with operations in Bermuda, the United Kingdom, and the United States. Reinsurance is provided by Carrick Re, a Bermuda-based Class 3A Insurer.  

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