The liabilities relate to workers’ compensation policies issued between 1988 and 2012 to a US corporate from a large US carrier.
The transaction allows the carrier to assign the insurance liabilities under the deductible policies, providing full finality to the corporate, while keeping the original carrier fully collateralised.
The outstanding liabilities are estimated to be approximately $24 million.
Ken Randall, chairman and CEO of R&Q, said: “We are pleased to complete this assignment with a large US carrier.”
Randall added: “This transaction is a further example of R&Q’s innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q while keeping the original carrier fully collateralised.”