IMAGINE GROUP BUYS ENTERPRISE REINSURANCE

Imagine Insurance Co, a unit of Barbados-based Imagine Reinsurance Holdings, has acquired Bermuda’s Enterprise Re for undisclosed terms. Imagine founder and co‑chief executive Thomas Gleeson said that the deal would allow the company to “meet the significant demand for structured insurance and reinsurance products that we are seeing in the marketplace today”. The transaction leaves the group with offices in Barbados, Bermuda, New York, Dublin, Copenhagen, Basel and St Louis, and a staff of 18 insurance and reinsurance professionals. Imagine group is owned by management and Canadian financial services group Trilon Financial Corp. It acquired Enterprise Re from US General Electric’s Kansas-based Employers Re subsidiary, New Jersey-based Chubb group and New York investment bank Morgan Stanley.