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Randall & Quilter Investment Holdings (R&Q) has announced that it has completed two transactions of legacy business.
R&Q said that the first transaction provides full finality to a California based self-insurer by the R&Q owned A- rated carrier, Accredited Surety and Casualty, adding that this is the first transaction with a self-insurer in California and the fourth across the US over the past 2 years.
“We are delighted to complete this assumption in the State of California, which represents another successful transaction with self-insurers in the US,” said Ken Randall, chairman and chief executive officer of R&Q. “This deal reinforces our team’s innovation in structuring transactions to provide full finality for legacy liabilities and working cohesively with the respective insurance regulators to provide these solutions.”
In a second announcement R&Q also announced the issuance of a reinsurance agreement assuming the legacy liabilities of the Bermuda domiciled captive of a US corporate airline by the R&Q owned A- rated carrier, R&Q Insurance Malta.
According to R&Q it was able to provide the corporate economic relief from their legacy liabilities and R&Q looks to continue to provide innovative solutions to meet the needs of its counterparties.
“We are delighted to complete another transaction with another large US corporate,” commented Randall. “This deal highlights our continued efforts to service the US corporate market and become a trusted counterparty for reinsurance transactions of this type.”
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