Randall & Quilter makes run-off arrangement with Irish mutual fund

Randall & Quilter Investment Holdings has entered into an arrangement with the Law Society of Ireland in respect of the run-off obligations of the Solicitors Mutual Defence Fund (SMDF).

Established in 1987, SMDF was a mutual fund set up to provide professional indemnity protection for solicitors practicing in Ireland.

SMDF ceased trading in 2011 after a series of heavy losses relating to the economic downturn in Ireland.

As a specialist run-off company, R&Q specialises in acquiring and managing portfolios to their natural extinction.

Ken Randall, chairman and CEO of R&Q, said: “We are pleased to announce the arrangement with the Law Society of Ireland further demonstrating R&Q’s ability to offer finality solutions in a range of different situations”.