19 June 2017Insurance

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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More on this story

16 May 2017   R&Q Commercial Risk Services, the specialist MGA platform of Randall & Quilter, has opened its third regional office in the UK as part of its strategy to expand the distribution footprint.
20 June 2017   Randall & Quilter Investment Holdings has written a loss portfolio transfer (LPT) reinsurance contract to cover approximately $43 million legacy liabilities for a California-based insurance group.
23 June 2017   Randall and Quilter Investment Holdings (R&Q) has reached an agreement with US medical professional liability insurer Coverys to sell the entire share capital of its Lloyd's managing agency for $22.6 million.