Carrick Group announced that Carrick Re Ltd., a Bermuda class 3A reinsurer, has entered into a loss portfolio transfer (LPT) with National Casualty Company of America, Limited, National Casualty Company, UK Branch, and Nationwide General Insurance Company, UK Branch, ahead of a proposed Part VII transfer.

August 7, 2025 – Carrick Group Limited (“Carrick”), a Bermuda-based international non-life legacy insurance business providing reinsurance and run-off solutions, today announced that Carrick Re Ltd., a Bermuda class 3A reinsurer, has entered into a loss portfolio transfer (LPT) with National Casualty Company of America, Limited, National Casualty Company, UK Branch, and Nationwide General Insurance Company, UK Branch, ahead of a proposed Part VII transfer.

Carrick Re Ltd. intends to assume the covered business of the above referenced companies. The businesses have been in run-off since 1974, and they consist of residual claims and exposures principally from risks emanating from property and casualty (re)insurance of U.S.-based Fortune 500 companies.

“It has been a pleasure working with the Nationwide team to put together this transaction,” said Phil Hernon, Carrick Chief Operating Officer. “We look forward to completing the legal transfer. We have the expertise to run off companies in an efficient way while protecting the policyholders and the reputation of all parties, and this type of transaction fits our business model perfectly.”

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 is headquartered in Bermuda. For more information about Carrick visit www.carrickholdings.com.