Legacy specialist Compre has redomiciled its group holding company to Bermuda from Malta starting 1 July 2022.
The move is part of the company’s diversification policy and aims to expand its focus from Continental Europe to add Lloyd’s of London and legacy markets in North America.
Following the relocation, the company will be supervised by the Bermuda Monetary Authority (BMA).
Meanwhile, Compre group COO Simon Hawkins has been appointed to the new position of CEO-Europe.
In his new role, Hawkins will look after the company’s business development strategies as well as help in building Compre’s long-term client associations across its European, Lloyd’s and UK markets.
In April this year, Compre appointed David Presley as CEO – North America, to further strengthen its position in the region.
Compre group CEO Will Bridger said: “Our move to Bermuda is a further milestone for Compre and reflects the broader international nature and expertise of our organisation, the jurisdiction of the insurance liabilities on our balance sheet and the concentration of business within geographic risk-bearing entities.
“Our thanks to the Malta Financial Services Authority for their support over the past five years and we look forward to working closely with the BMA as our business grows across our markets.”
Last year, Compre formed a collaboration with specialist re/insurer Apollo Syndicate Management to introduce a new Lloyd’s of London legacy business focussed syndicate 1994.