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R&Q in Loss Portfolio Transfer & Insurance Business Transfer with Allianz

24th September 2020 - Author: Luke Gallin

Randall & Quilter Investment Holdings Ltd. (R&Q) has transacted a Loss Portfolio Transfer (LPT) with Allianz SE, Germany, with the close assistance of Black Forest Reinsurance Consulting (BFRC).

Randall & QuilterWith this reinsurance transaction, the reinsurance is being provided by Accredited Insurance (Europe) limited, R&Q’s rated carrier based in Malta.

The transaction provides Allianz with economic finality of a third-party reinsurance portfolio that has no active client relationships, and that was underwritten from 1976 onwards.

Additionally, this LPT reinsurance transaction also includes a mutual interest to undertake an Insurance Business Transfer of the portfolio to Accredited, subject to regulatory approvals.

Paul Corver, Group Head of M&A at R&Q, commented: “We are delighted to have completed this Loss Portfolio Transfer with the mutual intention to follow on with an Insurance Business Transfer from Germany to Malta. We have assumed numerous portfolios of business from across Europe into our rated Maltese platform which provides complete finality to the cedant and the accompanying capital relief.

“We are very pleased to have executed this transaction with Allianz and once again it proves our capabilities to utilize our international team to provide full finality legacy solutions across the US and Europe.

“Our legacy pipeline across the Group remains strong and we look forward to working closely with BFRC to conclude further Continental European legacy opportunities in the near future.”

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