Independent insurance and reinsurance legacy specialist, Compre has announced its founding director Nick Steer will be stepping down from his role effective March 2018.
Steer will remain within the group, advising on further acquisitions as non-executive deputy chairman.
Subject to relevant regulatory approvals, Will Bridger, managing director of acquisitions and Mark Lawson, group actuarial director, will jointly succeed Steer and take on the role as co-CEOs.
Their combined complementary skills will ensure the continued successful expansion of the business and future development of group strategy.
From 1 January 2018, Philipp Kleyser will also be appointed to the group in Germany in a new business role and will become a director of its reinsurance subsidiary, Hamburger Internationale Rückversicherung-AG.
Kleyser joins from EY where he was most recently served as executive director, providing transaction and restructuring advisory support for the insurance industry in Germany and Europe.
Commenting on stepping down from his CEO role, Steer said: “Next March I will have been with the business for 32 years and CEO for the last nine. During that time, the group has completed 11 company and 27 portfolio acquisitions in 11 different countries across Europe. It has grown to be a well-respected and trusted acquirer of non-life insurance and reinsurance legacy business. I feel now is the right time to step back as CEO and let the team, under new leadership, build on the very stable platform and take the business forward. I look forward to contributing to the continued success of the business in my new role.”
Chairman of Compre Group, Tom Colraine said: “We are very grateful to Nick for his leadership over many years, and are pleased to have his continued involvement as deputy chairman. The Board are delighted to be promoting Will Bridger and Mark Lawson as co-CEOs. Their joint role plays well to Will and Mark’s respective leadership strengths and their combined experience will support the continued strong development of the business.”