Randall & Quilter Writes Loss Portfolio Transfer Contract For US Firm

LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd on Monday said it has ...

Alliance News 19 June, 2017 | 11:20AM
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LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd on Monday said it has written a loss portfolio transfer (LPT) reinsurance contract to assume a bonds portfolio issued by an unnamed Fortune 500 insurance group.

The estimated undiscounted liabilities assumed are USD46.5 million.

"We are delighted to complete this LPT of surety business, a special focus of Accredited Surety & Casualty, our A-rated US admitted carrier. This transaction demonstrates our ongoing commitment to expand our legacy liability solutions to counterparties within the North American market," Chairman & Chief Executive Ken Randall said in a statement.

Shares in Randall & Quilter were trading down 2.1% at 1.154 pence on Monday.

By Karolina Kaminska; karolinakaminska@alliancenews.com; @KarolinaAllNews

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Randall & Quilter Investment Holdings Ltd 146.50 GBX 1.74 -
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