LONDON - Global law firm Reed Smith has advised private equity firm CBPE Capital on its sale of Compre, a specialist global consolidator of closed books of non-life insurance policies, to Cinven, an international private equity firm, and British Columbia Investment Management Corporation (BCI), one of Canada’s largest institutional investors.

Related Professionals: Philip M. Taylor Stephen Mooney Matthew Bowen Lily Wu Caspar Fox Alia Khalil Ross Mackenzie Brett Hillis

business financial concept with calculator pen and accounting report in office

Compre is focused on the acquisition and management of discontinued non-life insurance portfolios and has operations in the UK, Bermuda, Finland, Germany, Malta and Switzerland. Founded in 1991, it employs around 80 people at its offices in the UK, Continental Europe, and Bermuda. Reed Smith previously acted for CBPE on its original investment in Compre, alongside the company’s management, in 2015.

The Reed Smith team that advised on the deal was led by partner Philip Taylor, supported by Stephen Mooney, Matthew Bowen, Lily Wu and Athena Pantzari (corporate), Caspar Fox and Alia Khalil (corporate), Ross Mackenzie (competition) and Brett Hillis (regulatory).

The transaction is expected to complete in the first half of 2021 and is subject to regulatory approvals.