Legacy specialist Compre has been acquired by international private equity firm Cinven and institutional investor British Columbia Investment Management Corporation (“BCI”).

Compre is a non-life run-off specialist with operations in Bermuda, Malta, the UK, Finland, Germany and Switzerland.

Both Cinven and BCI have made a number of investments in the financial services sector recently, with Cinven acquiring captive consultancy and broker Miller from Willis Towers Watson in in November 2020.

In a statement, the companies said that Compre was an attractive acquisition due to , in part, “the significant opportunity to capitalise on the increasing demand for legacy solutions and offer its products to a broader range of international clients”.