Accredited Insurance (Europe) Limited, a wholly owned subsidiary of Randall & Quilter Investment Holding Ltd. (R&Q), has completed the transfer of business from Lansen Försäkringsaktiebolag (Lansen), a wholly owned subsidiary of SAAB Aktiebolag.
R&Q states that the portfolio transfer is designed to enable SAAB to close its captive insurer that it says is no longer needed as a result of the changing insurance market.
Ken Randall, Group Executive Chairman of R&Q, commented: “We are pleased to have completed the transfer of legacy business for SAAB which related to a captive insurer that has ceased trading.
“This transaction continues to demonstrate R&Q’s ability to assist companies manage liabilities relating to discontinued business lines and is the first with a Swedish captive, a territory where we have other opportunities in the pipeline.”
