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Randall & Quilter Investment Holdings (R&Q) has announced the completion of two transactions in the insurance space.
R&Q recently completed a transaction to provide full finality to a California-based self-insurer by R&Q-owned carrier Accredited Surety and Casualty. This is R&Q’s first transaction with a self-insurer in California and its fourth nationwide over the past two years.
“We are delighted to complete this assumption in the state of California, which represents another successful transaction with self-insurers in the United States,” said Ken Randall, chairman and CEO of R&Q. “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 has also announced the issuance of a reinsurance agreement, under which its subsidiary, R&Q Insurance Malta, will assume the legacy liabilities of the Bermuda-domiciled captive of a US corporate airline. The company was able to provide the airline with economic relief from its legacy liabilities, R&Q said.
“We are delighted to complete another transaction with another large US corporate,” Randall said. “This deal highlights our continued efforts to service the US corporate market and become a trusted counterparty for reinsurance transactions of this type.”
