This transaction assists Repwest towards its target of reaching economic finality of its Assumed Re run-off business, which it underwrote from 1978 through 2003. Aon served as the reinsurance broker for this transaction
R&Q enters loss portfolio transfer with Repwest Insurance. (Credit: Randall & Quilter Investment Holdings Ltd.)
Randall & Quilter Investment Holdings (R&Q) is pleased to announce that it has entered into a Loss Portfolio Transfer Reinsurance Contract and a Transfer Agreement with Repwest Insurance Company (Repwest).
Repwest is based in Phoenix Arizona and is a wholly owned subsidiary company of AMERCO. AMERCO is also the parent company of U-Haul, North America’s largest ‘do-it-yourself’ moving and self-storage operator.
This transaction assists Repwest towards its target of reaching economic finality of its Assumed Re run-off business, which it underwrote from 1978 through 2003. Aon served as the reinsurance broker for this transaction.
Paul Corver, R&Q Group Head of M&A, commented: “We are delighted to have completed this Loss Portfolio Transfer with the mutual intention to undertake an Insurance Business Transfer in Oklahoma, subject to appropriate approvals. This once again proves our capabilities to utilize our international team to provide full finality legacy solutions across the US and Europe. Our legacy pipeline across the Group remains strong despite the current turmoil from COVID-19 and we look forward to closing more transactions in the coming months.”
Source: Company Press Release