Randall & Quilter Investment Holdings has underwritten a collateralised facultative reinsurance policy for a large U.S. P&C carrier for a premium of $6.5 million.
The reinsurance was underwritten from a cell within R&Q’s wholly-owned subsidiary, R&Q Quest Insurance, with encumbered assets of $8.5 million.
Chairman & Chief Executive Ken Randall, commented;”We are pleased to complete this facultative reinsurance with a large U.S. carrier.
“This transaction is yet another example of R&Q’s innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q.”
The reinsurance covers underlying liabilities of the deductibles of workers’ compensation and auto liability policies issued between 2007 and 2016 to a U.S. corporate.
The policy allows the carrier to commute the deductible cover with the corporate – providing full finality to the corporate while remaining fully collateralised.
