Compre, the Bermudian-headquartered international legacy group, has agreed to acquire the Irish subsidiary of Covéa, Medical Insurance Company DAC, which provided general liability insurance covering professional medical malpractice risks before entering into run-off in 2015.

The company said the transaction represents a further significant step in Compre’s ambition to build a centre of excellence for medical malpractice in Europe.

The transaction remains subject to regulatory approvals.

Simon Hawkins, CEO Europe, said: “I am delighted to announce our third acquisition of European medmal legacy liabilities this year.

“This transaction further demonstrates our client-focused approach, where we worked closely with Covéa to ensure their objectives were realised.

“We look forward to working with the MIC team and providing best-in-class claims service to MIC’s policyholders.”

Compre has operations in Bermuda, Finland, Germany, Malta, Switzerland, Britain, the United States and at Lloyd’s of London.