AXA Liabilities Managers Acquires Gothaer Re Run-Off Portfolio

July 9, 2018

Specialist run-off acquirer and manager AXA Liabilities Managers (AXA LM) has acquired the legacy assumed portfolio of Cologne-based Gothaer Finanzholding A.G., which is been in run-off since it ceased trading in 2004.

The transaction was in the form of loss portfolio reinsurance which was followed by a German portfolio transfer. It received regulatory approval from the German Federal Financial Supervisory Authority (BaFin) on June 26, 2018.

Outstanding reserves total approximately €19 million ($22.3 million) and are primarily composed of European motor and general liability reinsurance.

AXA LM said this deal is its 18th legacy acquisition assumed on the open market.

Guy Carpenter Munich acted as adviser for this transaction.

“Guy Carpenter is very pleased that by working closely with Gothaer we have been able to develop a solution which has facilitated the transfer of all economic and legal obligations, including claims handling, thereby delivering full closure for the group,” commented Axel Flöring, CEO, DACH, Guy Carpenter.

Frank Achtert, head of Capital Optimisation, Strategic Advisory EMEA, Guy Carpenter, added: “This is one of a series of capital-related transactions which have been structured by Guy Carpenter DACH within the last 24 months. This reflects the consistent development of our business model which sees us expand beyond the role of a pure reinsurance broker to become a more comprehensive risk and capital advisory service provider.”

Source: AXA Liabilities Managers/Guy CarpenterGothaer

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