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R&Q Completes Portfolio Transfer of Scandinavian Marine Business

23 January, 2015

R&Q is pleased to announce the successful portfolio transfer of Tryg Forsikring AS’s (‘Tryg’) discontinued marine business to R&Q Insurance (Malta) Limited, the group’s EU run-off consolidator. The transferring current liabilities total DKK 30.1 million.

The policies being transferred provided marine insurance cover for the years 1998 to 2010 to policyholders in Denmark, Sweden and Norway.  Following the transfer the claims will be managed by R&Q Triton AS in Oslo, R&Q’s local insurance and claims management company.

Commenting on the acquisition Paul Corver, Head of M&A at R&Q, said: “We are delighted to be able to announce another successful portfolio transfer, further to that from Aker Insurance which we recently completed. We believe that R&Q is able to provide a compelling exit solution for discontinued lines of business, and this is another example of our ability to provide such finality for EU insurers. This is the first transfer from a Danish insurer into our Malta platform and a clear demonstration of our ability to execute cross-border EU transfers.”

Click here to download the full Press Release

R&Q Completes Portfolio Transfer of Scandinavian Marine Business

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