Randall & Quilter Investment Holdings Ltd. (R&Q) has completed a loss portfolio transfer (LPT) from Pacific Pioneer Insurance Company (PPIC) to Accredited Surety and Casualty Company.
Accredited is R&Q’s wholly owned A- (IX) rated carrier. An announcement on the arrangement notes that this reinsurance transaction forms part of a larger transaction which helped facilitate the sale of PPIC to a third party.
Paul Corver, Group Head of M&A at R&Q, commented: “We are thrilled to have been able to provide an exit solution to our client’s legacy liabilities and help facilitate its successful sale. This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic disposals or acquisitions.
“We are pleased that R&Q continues to be a market of choice for such transactions and thank Guy Carpenter for their assistance throughout the transaction.”
In recent months, R&Q’s Accredited has entered into numerous program underwriting partnerships, including with the likes of TTS, Surround, and Attune.
