Randall & Quilter Investment Holdings Ltd. (R&Q), a Bermuda-based specialist non-life insurance and reinsurance investor, has announced the issuance of a facultative reinsurance certificate to a large U.S. property and casualty (P&C) carrier.
According to an announcement, the collateralised reinsurance policy was written from a cell within R&Q Quest Insurance Limited, a wholly owned subsidiary of R&Q.
The underlying liabilities covered by the reinsurance arrangement relate to deductibles of workers’ compensation policies that were issued between 2013 and 2016, to a U.S. corporate.
R&Q explains that the policy enabled the carrier to commute the deductible coverage with the corporate, which in turn provides full finality to the corporate while remaining fully collateralised.
R&Q’s Chairman and Chief Executive Officer (CEO), Ken Randall, commented: “We are pleased to complete another facultative reinsurance with a large US carrier. This transaction is yet another example of R&Q’s innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q.”
