R&Q completes Loss Portfolio Transfer with California based insurance group

20 June, 2017

Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce it has written a Loss Portfolio Transfer reinsurance contract to cover the livery, trucking, and contractors’ liability programs issued between 2007 and 2015 by a California based insurance group.  As part of the transaction, R&Q will assume the claims handling responsibilities for the carrier.  The estimated undiscounted liabilities assumed are c. $43m. R&Q worked in conjunction with Willis Re to successfully complete this transaction.

Ken Randall, Chairman and Chief Executive Officer of R&Q, commented:

“We are pleased to provide a solution incorporating claims handling with a traditional LPT contract, which further demonstrates our ability to provide exit solutions to counterparties.  This LPT demonstrates Accredited Surety & Casualty’s expanded capabilities on the U.S. west coast and emphasizes our continued commitment to provide legacy liability solutions within the North American market. To complete this deal so shortly after another similar sized LPT contract is further proof of our increased level of activity in the legacy market, especially pleasing in the first half of the year.”

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