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Randall & Quilter completes two US-focussed transactions
Randall & Quilter Investment Holdings announced the completion of two major transactions on Monday, including one to provide full finality to a California-based self-insurer by the R&Q owned A-rated carrier, Accredited Surety and Casualty.
The AIM-traded firm said it was the first transaction with a self-insurer in California, and the fourth across the US over the past two years.
"We are delighted to complete this assumption in the State of California, which represents another successful transaction with self-insurers in the United States," said chairman and chief executive Ken Randall.
"This deal reinforces our team's innovation in structuring transactions to provide full finality for legacy liabilities and working cohesively with the respective insurance regulators to provide these solutions."
The second transaction involved Randall & Quilter Investment Holdings issuing a reinsurance agreement assuming the legacy liabilities of the Bermuda-domiciled captive of a US corporate airline by the R&Q owned A-rated carrier, R&Q Insurance Malta.
Randall & Quilter said it was able to provide corporate economic relief from their legacy liabilities, and it looked to continue to provide "innovative solutions" to meet the needs of its counterparties.
"We are delighted to complete another transaction with another large US corporate," Ken Randall said of the second transaction.
"This deal highlights our continued efforts to service the US corporate market and become a trusted counterparty for reinsurance transactions of this type."