Carrick Group announced that its wholly owned subsidiary Carrick UK Holdings Company Limited had reached agreement with Bristol-Myers Squibb Company to acquire their two Irish Captives namely BMS International Insurance DAC (“BMSII”) and Seamair Insurance DAC (“Seamair”).

September 11, 2024 – Carrick Group Limited (“Carrick”), a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, today announced that its wholly owned subsidiary Carrick UK Holdings Company Limited had reached agreement with Bristol-Myers Squibb Company to acquire their two Irish Captives namely BMS International Insurance DAC (“BMSII”) and Seamair Insurance DAC (“Seamair”).  BMSII and Seamair are regulated by the Central Bank of Ireland.

“Carrick is delighted to complete its first acquisition in the Irish Market ” said Phil Hernon , Chief Operating Officer. “This type of transaction fits perfectly within Carrick’s strategy to provide solutions to the insurance market and expand global operations to include Irish subsidiaries to assist with European opportunities. We would also like to thank Strategic Risk Solutions (“SRS”) for the proactive role that they performed in assisting with the conclusion of both deals.”

About Carrick

Established in 2019, Carrick has formed a non-life runoff business with operations in Bermuda, the United Kingdom and the United States. Reinsurance is provided by Carrick Re Ltd, a Bermuda-based Class 3A Insurer. Carrick’s senior management team includes Tom Nichols, Chief Executive Officer, Phil Hernon, Chief Operating Officer and Devin O’Malley, Chief Financial Officer.

Carrick is headquartered in Bermuda. Carrick is owned by Northlight QIAIF plc, which is managed by Northlight Group LLP. For more information about Carrick visit www.carrickholdings.com. For more information about Northlight Group visit www.northlight.co.uk.