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Compre Group Holdings, a Bermuda-based firm that specializes in acquiring and managing discontinued insurance and reinsurance businesses, has purchased the workers’ compensation portfolio from SUNZ Insurance Co. for an undisclosed sum.
The transaction, approved by the Bermuda Monetary Authority, was structured as a loss-portfolio transfer, and includes large deductible and guaranteed-cost workers’ comp policies, Compre said in a news release. It was underwritten by Compre’s Bermuda reinsurer, Pallas Reinsurance Co.
The move will help SUNZ with its growth plans, said Jeffrey Marshall, CEO of the Bradenton, Florida-based insurer.
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