Randall & Quilter Investment Holdings Ltd. (R&Q) has announced the issuance of a $70 million adverse development cover reinsurance policy to a U.S domiciled risk retention group (RRG).
Written by Accredited Surety and Casualty Company, Inc. (Accredited), R&Q’s wholly owned A- admitted carrier, the reinsurance covers medical professional liability and general liability risks, and will protect the RRG’s legacy insurance program from downside risk.
R&Q’s Chairman and Chief Executive Officer (CEO), Ken Randall, said: “This transaction adds to the continued development of exit solutions to risk retention groups within the U.S.
“We are excited to expand our capabilities using Accredited Surety and Casualty Company, Inc. to assist in solving various issues that arise on legacy liabilities for RRG’s, self-insurers, and corporates within the U.S.”
Headquartered in Florida, Accredited is wholly owned subsidiary of the Bermudan R&Q Group, and writes admitted business across the U.S.
