Swiss Re’s Westport Insurance Corp. has announced a merger with Employers Reinsurance Corp. Both are U.S. domiciled corporations. Employers Reinsurance Corp. also maintains a Canadian Branch.
In the merger, Employers Reinsurance assumed the Westport name and all of the liability and obligations under and according to the terms of the policies issued by Westport Insurance Corp. As a result, policyholders and reinsureds of Westport Insurance and Employers Reinsurance will now be insured by Westport Insurance Corp. with the new NAIC number of 39845 rather than 34207.
In Canada, the impact of the merger is a name change only — from Employers Reinsurance Corp. to Westport Insurance Corp.
Additionally, Swiss Re has received regulatory approval to merge Coregis Insurance Co. into Westport Insurance Corp. According to the company, “This milestone further underscores Swiss Re’s commitment to commercial insurance and exemplifies [its] focus on smart capital management, delivering greater efficiency and reduced operating costs.”
Source: Swiss Re
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