Covéa to sell its Irish subsidiary

Covéa has signed an agreement with the British group Compre regarding the sale of its Irish subsidiary Medical Insurance Company (MIC), which specializes in medical liability insurance and has been in run-off since 2015.

The Compre group specializes in the acquisition and management of insurance and reinsurance portfolios in run-off.

This initiative is part of the French mutual insurer's strategy to refocus its international activities and to make reinsurance its main industrial development lever overseas.

The transaction is still pending approval from the relevant authorities.