R&Q writes loss portfolio transfer reinsurance contract

Randall & Quilter Investment Holdings has announced that it has written a loss portfolio transfer (LPT) reinsurance contract to assume a bonds portfolio issued by an undisclosed Fortune 500 Insurance Group.

The company said that it has assumed estimated undiscounted liabilities of $46.5 million and that it worked in conjunction with Guy Carpenter to complete the transaction.

Ken Randall, chairman and chief executive officer of R&Q, said: “We are delighted to complete this LPT of surety business, a special focus of Accredited Surety & Casualty, our A- rated US admitted carrier. This transaction demonstrates our ongoing commitment to expand our legacy liability solutions to counterparties within the North American market.”