R&Q has issued a loss portfolio transfer reinsurance covering workers’ compensation, product, auto and general liability risks.
The coverage was written by R&Q’s wholly-owned Accredited Surety and Casualty Company for the benefit of a Bermuda-domiciled captive.
The reinsurance was part of a larger transaction involving the scale of one of the parent company’s business units to a strategic buyer.
Ken Randall, executive chairman of R&Q, explained: “We are thrilled to have been able to provide an exit solution to our client’s legacy liabilities and facilitate the sale of one its largest business units.”
Randall added: “This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic acquisitions. We are pleased that R&Q continues to be a market of choice for such transactions.”
