Reinsurance News

R&Q assumes $43m in liabilities from California insurer in reinsurance contract

20th June 2017 - Author: Staff Writer

Randall & Quilter Investment Holdings (R&Q) has written a loss portfolio transfer reinsurance contract to cover a California-based insurance group’s livery, trucking, and contractors’ liability programme issued from 2007 to 2015.

Randall & Quilter logoThe deal includes R&Q assuming about $43 million in undiscounted liabilities as well as the carrier’s claims handling.

Ken Randall, Chairman and Chief Executive Officer of R&Q, said completing the deal shortly after another similar sized LPT was proof of the firm’s increasing activities in the legacy market.

He commented; “We are pleased to provide a solution incorporating claims handling with a traditional LPT contract, which further demonstrates our ability to provide exit solutions to counterparties.

“This LPT demonstrates Accredited Surety & Casualty’s expanded capabilities on the U.S. west coast and emphasizes our continued commitment to provide legacy liability solutions within the North American market.”

R&Q completed the transaction as part of a collaboration with reinsurance broker Willis Re.

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