Compre Holdings has announced that regulatory clearance from the UK and Finnish authorities has been received for the acquisition by Finnex Holdings Ltd of two general reinsurance run-off subsidiaries of Pohjola Group plc of Finland: Bothnia International Insurance Company Ltd, registered in Finland and Moorgate Insurance Company, registered in the UK.

The management and administration of the run-off of the two companies will be handled by Compre Administrators Ltd in London and Compre Nordic Oy in Helsinki.

After completion of the acquisition, Finnex will own four reinsurance companies in run-off.