30 September, 2016
R&Q Insurance (Malta) Limited (“RQIM”) is pleased to announce that regulatory approvals have been given to a Portfolio Transfer Agreement of certain contracts relating to legacy exposures originally underwritten by Aviabel S.A. Prior to the transfer, RQIM had written a reinsurance of the contracts. Aviabel S.A. is a long-established Belgian company specializing in aviation insurance and reinsurance.
RQIM was incorporated in 2013 for the purpose of consolidating owned and acquired insurance, reinsurance and captive portfolios from across Europe.
Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter Investment Holdings Ltd. (“R&Q”), said:
“We are delighted to have received the necessary regulatory approvals to the business transfer and R&Q has now removed these liabilities completely from Aviabel S.A. This demonstrates the ability of R&Q to provide exit solutions from legacy insurance liabilities to companies throughout Europe. This is one of a number of current transactions we have been assessing and we remain excited about our legacy acquisition pipeline.”
Further to the Company’s announcement on 13 January 2020 (RNS number 5159Z), the Company hereby provides the attached notification, made in accordance with the requirements of the EU Market Abuse Regulation.
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