R&Q completes $46.5m loss portfolio transfer

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

R&Q has assumed estimated undiscounted liabilities of $46.5 million. 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."

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