Randall & Quilter provides legacy reinsurance for Bermuda captive
Randall & Quilter Investment Holdings (R&Q) has issued a loss portfolio transfer reinsurance, covering workers’ compensation, product, auto, and general liability risks, for a Bermuda domiciled captive.
The coverage was written by R&Q’s wholly owned A- admitted carrier, Accredited Surety and Casualty Company.
The reinsurance was part of a larger transaction involving the sale of one of the parent company’s business units to a strategic buyer.
Ken Randall, executive chairman of R&Q, said: “We are thrilled to have been able to provide an exit solution to our client’s legacy liabilities and facilitate the sale of one its largest business units.
"This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic acquisitions. We are pleased that R&Q continues to be a market of choice for such transactions.”
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