19 February 2018Insurance

R&Q completes reinsurance to close of Syndicate 3334

Bermuda-based Randall & Quilter (R&Q) has completed a transaction providing capital to support the reinsurance to close (RITC) of  Hamilton Underwriting’s Syndicate 3334’s 2014 and prior years of account.

The deal was carried out in conjunction with AXA DBIO and has received the necessary approvals. The transaction has completed with an inception date of Jan. 1, 2018.

The RITC has been written by Syndicate 3330, managed by Coverys Managing Agency and consists of net reserves of around £30 million.

“We are pleased to have concluded this RITC with Hamilton in respect of the run-off of their legacy Sportscover business,” said R&Q CEO Ken Randall. “We continue to build on our relationship with Coverys Managing Agency and are delighted to have a strong partner in AXA Liabilities Managers. We look forward to completing further Lloyd’s legacy transactions in the future, building on the recent success here,” Randall added.

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More on this story

15 January 2018   Operations management, consulting and digital solutions provider Davies Group is acquiring the international insurance services assets of Randall & Quilter Investment Holdings (R&Q).
21 December 2017   Hamilton Underwriting, the managing agency of Syndicate 3334 and the Lloyd's operations of Hamilton Insurance Group, has reached an agreement with Randall & Quilter (R&Q) in conjunction with AXA DBIO, to support the Reinsurance to Close (RITC) of Syndicate 3334’s 2014 and prior years of account.
12 March 2018   Randall & Quilter Investment Holdings (R&Q) has issued adverse development reinsurance covering medical professional liability and general liability risks providing $70 million of coverage to a US domiciled Risk Retention Group (RRG).