Compre sets sights on Europe MedMal with MIC purchase
Compre, the Bermuda headquartered international legacy group, is to acquire Medical Insurance Company (MIC), the Irish subsidiary of Covéa which provided general liability insurance covering professional medical malpractice risks.
MIC entered into run-off in 2015. The transaction remains subject to appropriate regulatory approvals.
According to the company the transaction represents a further significant step in Compre’s ambition to build a centre of excellence for medical malpractice (MedMal) in Europe.
“I am delighted to announce our third acquisition of European MedMal legacy liabilities this year,” said Simon Hawkins, chief executive Europe. “This transaction further demonstrates our client-focused approach, where we worked closely with Covéa to ensure their objectives were realised. We look forward to working with the MIC team and providing best in class claims service to MIC’s policyholders.”