June 22nd, 2026 – Carrick Group Limited (“Carrick”), a Bermuda-based international non-life legacy insurer, has announced transfer of the reinsurance contracts of IRB-Brasil Resseguros’ UK branch to Community Reinsurance Corporation Limited by way of an insurance business transfer scheme under Part VII of the Financial Services and Markets Act 2000.
The UK branch of IRB-Brasil Resseguros, a Brazilian reinsurance company, underwrote reinsurance business between 1974 and 1983, when it ceased operation and entered into run-off. Community Reinsurance Corporation Limited is a UK-domiciled reinsurer that has been in run-off since it ceased writing business in 1984. In 2020, it was acquired by Carrick Group.
The transfer was sanctioned by the High Court of Justice of England and Wales at a hearing on 16 June, 2026, and became effective on 20 June, 2026.
