Compre Group Holdings Limited (Compre), an international specialist reinsurance group headquartered in Bermuda, has announced that it will assume Amerisure’s significant portfolio of asbestos insurance liabilities.
Amerisure is a provider of commercial property and casualty insurance solutions to U.S. construction, manufacturing and healthcare businesses.
The transaction, which involves the transfer of a significant amount of legacy reserves, further solidifies Compre’s position as a trusted partner in managing complex long-tail insurance risks.
As part of the agreement, Compre will assume identified asbestos liabilities and manage all related claims.
Rachel Bardon, chief underwriting officer at Compre Group, said: “We are proud to deliver solutions that create tangible capital and operational benefits for our clients. Asbestos liability requires expertise and long-term commitment. This transaction demonstrates our disciplined underwriting approach and ability to build solutions that provide certainty, stability and efficiency to our partners.”
Amerisure Chief Financial Officer Chris Spaude added: “This agreement is a positive step to address legacy asbestos risks, reduce future volatility and further strengthen our long-term financial strength.
“With this action, Amerisure can further focus our capital, leadership and operational efforts to continue delivering industry-leading service in support of our agents and policyholders.”
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