Randall & Quilter Investment (R&Q) has issued a facultative reinsurance certificate to a large US property and casualty carrier from a cell within its wholly owned subsidiary, R&Q Quest Insurance.
The reinsurance covers underlying liabilities related to the deductibles of workers’ compensation policies issued between 2013 and 2016 to a US corporate.
The policy allowed the carrier to commute the deductible coverage with the corporate, which provided full finality to the corporate while remaining fully collateralised.
Ken Randall, chairman and CEO of R&Q, said the company was pleased to have completed another facultative reinsurance with a large US carrier.
He added: “This transaction is yet another example of R&Q’s innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q.”
