Randall & Quilter Investment Malta (RQIM) has agreed a portfolio transfer agreement of a run-off business from Aviabel.
Aviabel, established in 2013, is a Belgian company specialising in aviation insurance and reinsurance.
Ken Randall, chairman and CEO of RQIM, 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.”
“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.”
The acquisition comes days after the agreement with SIMIA, a mutual insurance company, to provide loss portfolio reinsurance coverage for all insurance contracts previously underwritten by the company.
