Randall & Quilter Investment Holdings Ltd. (R&Q) announced that its wholly owned subsidiary Accredited Insurance (Europe) Ltd. has completed the transfer of business from Sweden’s Lansen Försäkringsaktiebolag, a wholly owned subsidiary of SAAB Aktiebolag.
The transfer will help to enable SAAB to close its captive insurer that is no longer required due to the changing insurance market.
Ken Randall, group executive chairman of R&Q, commented: “We are pleased to have completed the transfer of legacy business for SAAB which related to a captive insurer that has ceased trading. This transaction continues to demonstrate R&Q’s ability to assist companies manage liabilities relating to discontinued business lines and is the first with a Swedish captive, a territory where we have other opportunities in the pipeline.”
Source: Randall & Quilter Investment Holdings
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