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Transfer of the business of Aegon Insurance Company (UK) Limited to R&Q Insurance (Malta) Limited

8 September, 2016

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 Aegon Insurance Company (UK) Limited (AIC) to R&Q Insurance (Malta) Limited (“RQIM”).

AIC is a general insurer, which has been in runoff since 1994, that was acquired by Guardian Assurance Group (GA) in 2002, GA is a Life Insurer and wished to dispose of its General Insurance Liabilities.

RQIM was incorporated in 2013 for the purpose of consolidating owned and acquired insurance, reinsurance and captive portfolios from across Europe. The AIC business transferred to RQIM is further proof of the concept of consolidating the runoff of long term liabilities.

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, demonstrating that R&Q can assist Insurers in managing their business. This transaction adds further to the scale of R&Q Insurance (Malta), and allows a life insurer to concentrate on its core business by divesting the general insurance risks from its portfolio”.

Click here for the full Press Release

Transfer of the business of Aegon Insurance Company (UK) Limited to R&Q Insurance (Malta) Limited

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