Randall & Quilter Investment Holdings (R&Q), the legacy and run-off acquisition and management specialist, has underwritten a loss portfolio transfer reinsurance contract to assume a bonds portfolio issued by a Fortune 500 Insurance Group.
The undiscounted liabilities assumed in the deal are estimated at $46.5 million.
Ken Randall, Chairman and Chief Executive Officer of R&Q, commented on the deal; “We are delighted to complete this LPT of surety business, a special focus of Accredited Surety & Casualty, our A- rated US admitted carrier.
“This transaction demonstrates our ongoing commitment to expand our legacy liability solutions to counterparties within the North American market.”
R&Q worked together with reinsurance broker Guy Carpenter to complete the transaction.
