Randall & Quilter Investment Holdings Ltd - investment firm - Transfers a loss portfolio of reinsurance business with Delvag Versicherungs AG, an insurance captive fully owned by Lufthansa Group. With this transaction, Delvag reaches economic finality of a third-party reinsurance portfolio amounting to EUR 22million of reserves that has no active client relationships and that was underwritten from 1969 onwards.
"We are delighted to have completed another loss portfolio transfer with the mutual intention to follow on with a reinsurance business transfer from Germany to Malta. We have assumed numerous portfolios of business from across Europe into our rated Maltese platform which provides complete finality to the cedant along with the accompanying cost and capital efficiencies," says Paul Corver, head of Mergers & Acquisitions at Randall & Quilter.
Current stock price: 167.00 pence
Year-to-date change: down 5.1%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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R&Q Insurance (RQIH)