Medical Insurance Company DAC covered professional medical malpractice risks until it entered run-off in 2015

Bermuda headquartered legacy specialist Compre has signed agreements to acquire the Irish subsidiary of Covéa, Medical Insurance Company DAC (MIC), which provided general liability insurance covering professional medical malpractice risks. MIC entered into run-off in 2015.

The transaction represents a further step in Compre’s ambition to build a centre of excellence for medical malpractice (MedMal) in Europe. The transaction remains subject to appropriate regulatory approvals.

Simon Hawkins, CEO Europe said: “I am delighted to announce our third acquisition of European MedMal legacy liabilities this year. 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.”