Carrick Specialty Holdings, an international non-life legacy business providing reinsurance and run-off management solutions, and its Bermuda-based subsidiary, Carrick Holdings (Bermuda), entered into an agreement with Bank of Montreal to provide funding of up to $40 million for legacy transactions.

“This credit agreement provides access to additional funding to help drive Carrick Group’s continued expansion. We look forward to what we hope will be a long and productive relationship with Bank of Montreal,” Karl Wall, CEO of Carrick, said.

DLA Piper advised Carrick on this transaction and Mayer Brown advised Bank of Montreal.