Randall & Quilter Investment Holdings (R&Q) has issued $70 million of adverse development reinsurance coverage to a US-domiciled risk retention group (RRG).
The coverage was written by R&Q’s wholly owned carrier, Accredited Surety and Casualty Company, and provided the RRG with coverage of medical professional liability and general liability risks to protect it from downside risk on its legacy insurance programme.
R&Q sold its captive operations to Davies Group in January 2018, in order to focus further on its core operations.
R&Q CEO and chairman, Ken Randall, commented: “This transaction adds to the continued development of exit solutions to RRGs within the US.”
He added: “We are excited to expand our capabilities using Accredited Surety and Casualty Company, to assist in solving various issues that arise on legacy liabilities for RRGs, self-insurers, and corporates within the US.”
