Optimum Re Insurance Company said that the transaction, which involved 270 treaties and approximately to 55,000 reinsurance cessions, will contribute to its development and strengthen position in the traditional small to mid-size US insurance market.
The transaction became effective from 1 July 2014.
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Optimum Re Insurance Company president and chief operating officer Sebastien Blondeau said: "This development is in line with the strategy we have established for our company over the past few years, which involves the ongoing expansion of our business by acquiring reinsurance portfolios in the United States.
"Since July 1st, our team has been contacting the new clientele to provide information about this acquisition.
Optimum Re Insurance Company is a member of Optimum Group, which operates mainly in Canada, the US and France with 500 staff.
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