A subsidiary of Randall & Quilter Investment (R&Q) has completed the transfer of a captive portfolio from Lansen Försäkringsaktiebolag (Lansen), a Swedish captive insurer owned by SAAB.
In a statement on the deal, Ken Randall, group executive chairman of R&Q, said it was for a legacy business for SAAB, a Swedish aerospace and defence company, which is related to a captive insurer that has ceased trading.
He added: “This transaction continues to demonstrate R&Q’s ability to assist companies to manage liabilities relating to discontinued business lines and is the first with a Swedish captive, a territory where we have other opportunities in the pipeline.”
According to R&Q, the transfer will help to enable SAAB to close its captive insurer that is no longer required “due to the changing insurance market”.
