Randall & Quilter Investment Holdings has issued a loss portfolio transfer reinsurance covering commercial auto liability risks.
The coverage was underwritten by R&Q’s wholly owned A- admitted carrier, Accredited Surety and Casualty Company for a US-based risk retention group (RRG).
The reinsurance offers a $146 million ground-up limit allowing the RRG to cover unpaid liabilities, estimated to be in excess of $100 million.
Dan Linden, head of merger and acquisition operations at R&Q, commented: “This transaction is a further example of our team’s commitment to developing legacy liability solutions to assist counterparties in achieving their strategic goals.”
Ken Randall, chairman and CEO of R&Q, added: “This loss portfolio transfer adds to our continued development of legacy solutions for risk retention groups within the US and is our third risk retention group transaction within the past year.”
“This transaction confirms our penetration into the larger value legacy space which we hope to build on going forward. We are excited to expand our capabilities using Accredited Surety and Casualty to provide legacy solutions for RRG’s, self-insurers, and corporates within the US.”