07-01-2019
The UK unit of Carrick Specialty Holdings, a New York-based international non-life legacy business that provides reinsurance and run-off management solutions, has acquired London-based reinsurer Community Reinsurance from Hampden.
The terms of the transaction were not disclosed.
The acquisition is Carrick’s first legacy transaction since Carrick Re, the company’s wholly owned reinsurance subsidiary, received its Class 3A insurer license from the Bermuda Monetary Authority earlier this year.
“Today’s news reflects two important steps forward in Carrick’s strategy,” said Karl Wall, chief executive officer at Carrick. “Through the completion of our first legacy transaction and the licensing of Carrick Re, we are well situated to offer customers a professional and disciplined approach to reinsurance and runoff finality solutions. We look forward to welcoming the talented team at Community Re to the Carrick family and working together to grow our platform.”
Legacy Specialist Carrick Specialty Holdings Buys UK-Based Community Re December 15, 2020
Terms of the transaction were not disclosed.
The acquisition is Carrick’s first legacy transaction since Carrick Re Ltd., the company’s wholly owned reinsurance subsidiary, received its Class 3A insurer license from the Bermuda Monetary Authority earlier this year.
“Today’s news reflects two important steps forward in Carrick’s strategy,” said Karl Wall, chief executive officer at Carrick. “Through the completion of our first legacy transaction and the licensing of Carrick Re, we are well situated to offer customers a professional and disciplined approach to reinsurance and runoff finality solutions. We look forward to welcoming the talented team at Community Re to the Carrick family and working together to grow our platform.”