Bermuda-based legacy insurer R&Q Insurance Holdings has signed a loss portfolio transfer (LPT) reinsurance agreement with a UK motor insurer.
The signed agreement covers a net reserve of $80 million. The transaction is subject to regulatory approvals and other conditions of closing.
Huw Battrick, co-head of legacy M&A at R&Q, commented: “We are pleased to announce this transaction for R&Q Legacy and work to put in place a reinsurance solution that supports our client with its ongoing business objectives.”
