Randall & Quilter Investment Holdings (R&Q) has completed a transaction to provide full finality to a California-based self-insurer by its subsidiary Accredited Surety and Casualty (Accredited).
The announcement marks R&Q’s first transaction with a self-insurer in California and the fourth in the U.S. over the past two years.
Chairman and Chief Executive Officer (CEO) of R&Q, Ken Randall, commented, “We are delighted to complete this assumption in the State of California, which represents another successful transaction with self-insurers in the United States.
“This deal reinforces our team’s innovation in structuring transactions to provide full finality for legacy liabilities and working cohesively with the respective insurance regulators to provide these Solutions”.
Additionally, R&Q has announced the issuance of a reinsurance agreement assuming legacy liabilities of the Bermuda-domiciled captive of a U.S. corporate airline, by its subsidiary R&Q Insurance Malta (RQIM). The deal sees R&Q provide corporate economic relief from the captives’ legacy liabilities.
Ken Randall added, “We are delighted to complete another transaction with another large US corporate. This deal highlights our continued efforts to service the US corporate market and become a trusted counterparty for reinsurance transactions of this type.”
