RISK AND REINSURANCE SOLUTIONS (2RS), subsidiary of the consultancy and insurance brokerage group SIACI SAINT HONORE, successfully concluded on 9 October 2020, the acquisition of the captive management activity of SOGECORE, with the support of, Partner, as well as and, Directors.
In September 2020, RISK AND REINSURANCE SOLUTIONS (2RS), a Luxembourg captive reinsurance and insurance management firm, announced the signature of an agreement setting out the purchase of the captive insurance and reinsurance clients portfolio of SOGECORE SA and of SOGECORE France SARL. Simultaneously, SOGECORE PARTICIPATIONS S.A., subsidiary of the Burrus Group, undertook to reinvest the entire price of this transaction into 2RS in order to hold 10% of its share capital.
Upon approval from the Luxembourg supervisory authority for the insurance sector and the satisfaction of other conditions precedent, the transaction was successfully completed on 9 October 2020. Under the guidance of Michel Bulach, Partner, Giuseppe Cafiero, Director, advised and represented 2RS and the SIACI Saint Honoré Group on transactional and regulatory matters and Jérémie Ferrian, Director, on corporate and tax laws aspects.
Once again, WILDGEN highlighted its recognised sector-specific expertise in Luxembourg and its key role as a privileged advisor to leading insurance and reinsurance undertakings on their strategic transactions.