• Strategy
  • Innovation
  • Expertise

Transfer of Liverpool & London to R&Q Insurance (Malta) Limited

22 December, 2015

Randall & Quilter Investment Holdings Ltd. (‘R&Q’) is pleased to announce the sanction of the transfer pursuant to Part VII of the Financial Services & Markets Act 2000 of business from Liverpool & London Steamship Protection & Indemnity Association Limited (“L&L”) to R&Q Insurance (Malta) Limited (“RQIM”).

L&L was incorporated in 1881 as a mutual marine liability insurer (referred to as a P&I Club) and went into run-off in February 2000.  As the traditional P&I claims have generally matured, L&L’s residual insurance liabilities mostly relate to asbestos and other industrial disease claims from crew, stevedores and other dock workers.  L&L decided in 2013 to explore exit solutions for its legacy insurance liabilities due to concerns over increasing costs and management arising from compliance with Solvency II from 2016.

RQIM was incorporated in 2013 for the purpose of consolidating owned and acquired insurance, reinsurance and captive portfolios from across Europe.  L&L is the sixth transaction to be absorbed by RQIM to date and there is a healthy future pipeline.

Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said: “We are delighted to have completed the transfer of this book of business, especially as it is the first time a P&I Club has transferred business to an insurance company in such a manner.  This transaction adds to the scale of R&Q Insurance (Malta), being the largest external Part VII the Group has undertaken to date and we are pleased to be able to provide longevity of service and security to the Club’s policyholders, members and claimants.”

Click here for the full Press Release

Transfer of Liverpool & London to R&Q Insurance (Malta) Limited

Latest News

Notice of General Meeting and Proposed Return of Capital
Notice of General Meeting and Proposed Return of Capital

Following the announcement of the Group’s interim results on 6 September 2019, the Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) (“Company”), the Bermuda based global program underwriting management and legacy acquisitions specialist, is pleased to confirm that a …

Interim results for the 6 months ended 30 June 2019
Interim results for the 6 months ended 30 June 2019

The Board of Randall & Quilter Investment Holdings Ltd. (AIM-RQIH), the specialist non-life Legacy insurance investor and capacity provider to the US and European MGA Business, announces the Group’s interim results for the 6 months ended 30 June 2019. Financial …

Retirement of Director
Retirement of Director

The Company today announces the retirement of Mr Michael Smith as a Non- Executive Director of the Company. He has also today stood down as Chair of the Company’s Remuneration and Nominations Committee and Reinsurance Asset Committee, and as the …