R&Q enters loss portfolio transfer agreement with Repwest
Randall & Quilter Investment Holdings has entered into a loss portfolio transfer reinsurance contract and a transfer agreement with Repwest Insurance.
The transaction relieves Repwest of its Assumed Re runoff business, which it underwrote from 1978 through 2003.
Repwest is based in Phoenix, Arizona, and is a wholly owned subsidiary of Amerco.
Paul Corver, R&Q group head of M&A, said the deal “proves our capabilities to utilise our international team to provide full finality legacy solutions across the US and Europe.”
R&Q’s legacy pipeline remains strong despite the current turmoil from COVID-19, Corver said.
R&Q is expected to be active in the market in coming months, having recently secured a significant investment in order to capitalise on opportunities in this distressed market.
Aon served as the reinsurance broker for the Repwest transaction.