Randall & Quilter issues reinsurance certificate to 'large' US carrier

30th Oct 2018 11:57

(Sharecast News) - Randall & Quilter Investment Holdings announced the issuance of a facultative reinsurance certificate to a large US property and casualty carrier on Tuesday.The AIM-traded firm said the collateralised reinsurance policy was written from a cell within R&Q's wholly owned subsidiary, R&Q Quest Insurance.It said the underlying liabilities covered by the reinsurance related to the deductibles of workers' compensation policies issued between 2013 and 2016 to a US corporate.That policy allowed the carrier to commute the deductible coverage with the corporate, therefore providing full finality to the corporate while remaining fully collateralised, Randall & Quilter explained."We are pleased to complete another facultative reinsurance with a large US carrier," said chairman and chief executive officer Ken Randall."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."