Loss Portfolio Transfer

RNS Number : 8522J

Randall & Quilter Inv Hldgs Ltd

29 December 2020

 

 

Randall & Quilter Investment Holdings Ltd.

Loss Portfolio Transfer

29 December 2020

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the completion of a loss portfolio transfer from Pacific Pioneer Insurance Company (PPIC) to R&Q's wholly owned A- (IX) rated carrier, Accredited Surety and Casualty Company ("Accredited"). This reinsurance transaction was part of a larger transaction which helped facilitate the successful sale of PPIC to a third party.

Paul Corver, Group Head of M&A at R&Q explained "We are thrilled to have been able to provide an exit solution to our client's legacy liabilities and help facilitate its successful sale. This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic disposals or acquisitions. We are pleased that R&Q continues to be a market of choice for such transactions and thank Guy Carpenter for their assistance throughout the transaction."

Ends

Enquiries to: Randall & Quilter Investment Holdings Ltd. www.rqih.com Paul Corver Tel: [phone] Numis Securities Limited Stuart Skinner (Nominated Adviser) Tel: [phone] Charles Farquhar (Broker) Tel: [phone] Shore Capital Stockbrokers Limited Stephane Auton/James Thomas Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

Notes to Editors:

About R&Q 

The overall mission of the Bermuda based Group is to:

· generate profits and capital extractions from expert management of legacy non-life insurance acquisitions/ reinsurances, including in Lloyd's; and 

· grow commission income from its licensed (and rated) carriers in the US and EU/UK, writing niche and profitable programme business, largely on behalf of highly rated reinsurers.

Our aim is to continue to grow sustainable profit streams to support our business model and increase book value and cash distributions to shareholders. 

The Group was founded by Ken Randall and Alan Quilter in 1991.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

 

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