Randall & Quilter Investment Holdings has completed a reinsurance agreement assuming the legacy liabilities of the Bermuda-domiciled captive of a US corporate airline through R&Q Insurance Malta (RQIM).
R&Q were able to provide the corporate economic relief from the airline's legacy liabilities through this transaction.
"We are delighted to complete another transaction with another large US corporate. This deal highlights our continued efforts to service the US corporate market and become a trusted counterparty for reinsurance transactions of this type," said Ken Randall, chairman and CEO of R&Q.
Furthermore, R&Q has also completed the transaction to provide full finality to a California-based self-insurer through R&Q-owned carrier, Accredited Surety and Casualty.
This transaction is the first with a self-insurer in California and the fourth across the US over the past 2 years.
Randall commented: “We are delighted to complete this assumption in the State of California, which represents another successful transaction with self-insurers in the United States. This deal reinforces our team’s innovation in structuring transactions to provide full finality for legacy liabilities and working cohesively with the respective insurance regulators to provide these solutions”.
R&Q, Aviation, Reinsurance, Captive insurance, M&A, Legacy, Run-off, Bermuda, North America