R&Q reinsurance deal facilitates business sale for captive
Randall and Quilter Investment Holdings (R&Q) has issued a loss portfolio transfer reinsurance covering workers’ compensation, product, auto, and general liability risks.
This coverage was written by R&Q’s wholly owned A- admitted carrier, Accredited Surety and Casualty Company, providing an exit for a Bermuda-domiciled captive client from its legacy liabilities. This facilitated the sale of one the captive’s largest business units to a strategic buyer.
Ken Randall, executive chairman of R&Q, said: “This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic acquisitions.”