Bermuda-based specialty reinsurer Compre has named Dominic Clayden (pictured above) as interim global claims director, a newly created position.
Clayden will report to chief operating officer Simon Hawkins and oversee the development of Compre’s global claims function, with all claims teams in the United States and Europe reporting to him.
Clayden, who is a lawyer by training, brings significant experience from previous roles in the insurance sector. He was group chief claims officer at QBE, where he managed reserves exceeding US$15 billion across Europe, Lloyd’s, North America, and Asia Pacific.
He also held the position of general insurance claims director at Aviva and most recently served as CEO of the UK Motor Insurance Bureau.
In his new role, Clayden will focus on unifying Compre’s claims operations to ensure consistency and best practices across all regions. The company expects that consolidating claims into a single function will streamline processes, reduce duplication, and enhance the use of technology.
Hawkins said the move to globalize the claims proposition is a significant step in Compre’s ongoing growth strategy.
“Our reputation rests on fair, consistent and transparent claims handling and I am delighted Dominic could join us to complete this important transition which began in 2023,” Hawkins said.
As part of this transition, Bill Bouvier, claims director for North America, will step down on Oct. 31.
In recent months, Compre has taken steps to expand its presence in the United States. Back in April, the company finalized its acquisition of the CSE Group, the US subsidiary of Covéa. This transaction included two California-domiciled personal lines insurance carriers and marked Compre’s second business dealing with Covéa.
August last year also Compre’s Bermuda-based reinsurer, Pallas Reinsurance Company, completing a legacy reinsurance transaction with Accelerant, a data-driven risk exchange platform.
The deal, approved by the Bermuda Monetary Authority (BMA), provided approximately US$150 million in coverage on loss reserves. The portfolio included a mix of US and European property and casualty liabilities.
Compre’s financial results for 2024 reflected a net loss after tax of (US$128.5) million and an operating loss of (US$45.3) million. However, the company’s Bermuda Solvency Coverage Requirement (BSCR) Ratio stood at 187% at the end of the year, indicating a strong capital position despite the losses.
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