Lloyd’s Reinsurance To Close

R&Q’s roots are in run-off and the Company remains committed to providing legacy solutions for both Lloyd’s and company underwriters.

Syndicate 3330 is R&Q’s specialist run-off vehicle and was formed to accept the reinsurance to close (“RITC”) of orphan syndicates from the 2017 year of account.

On 1 January 2012, Syndicate 3330 accepted the RITC of Syndicate 1208 for the 2007 year of account into its 2012 year of account. At 31 December 2014, the 2012 year of account was Reinsured to Close in to the 2014 year of account.

With effect from 1 January 2014 the syndicate reinsured Syndicate 102’s 2011 year of account into 2014 year of account. Syndicate 102 was also managed by R&Q. Subsequently, the 2014 year of account was closed at 31 December 2016 into the 2017 year of account.

On the 30 October 2017, R&Q agreed with ProSight Specialty Insurance to novate the management of its legacy Syndicate 1110 with a view to eventually RITC into Syndicate 3330 (click here for press release).

We can offer full RITC to provide finality for Lloyd’s syndicates, using both R&Q and external capital.

We are also able to consider the reinsurance of specific portfolios.

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