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R&Q provides $146m legacy reinsurance for a USA domiciled Risk Retention Group

September 4, 2018
News

Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce the issuance of a loss portfolio transfer reinsurance covering commercial auto liability risks.  This coverage was underwritten by R&Q’s wholly owned A- admitted carrier, Accredited Surety and Casualty Company, Inc. for the benefit of a U.S. domiciled RRG. This reinsurance provides $146m of ground-up limit which provides the RRG with significant limit to cover their unpaid liabilities which are estimated to be in excess of $100m.

Dan Linden, Head of M&A Operations (US/Bermuda), commented: “This transaction is a further example of our team’s commitment to developing legacy liability solutions to assist counterparties in achieving their strategic goals.”

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained “This loss portfolio transfer adds to our continued development of legacy solutions for risk retention groups within the U.S and is our third risk retention group transaction within the past year. This transaction confirms our penetration into the larger value legacy space which we hope to build on going forward.  We are excited to expand our capabilities using Accredited Surety & Casualty to provide legacy solutions for RRG’s, self-insurers, and corporates within the U.S.”

Click here for full press release.