R&Q mints $300mn sidecar for run-off deals as it posts H1 loss
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R&Q mints $300mn sidecar for run-off deals as it posts H1 loss

Samuel Casey
06 September 2021
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Randall & Quilter (R&Q) has announced the launch of a Bermuda-based reinsurance sidecar with $300mn of capital allowing the run-off acquirer to support $2bn of legacy reserves, as it posted an H1 pre-tax operating loss of $23.5mn.

The sidecar – named Gibson Re – will reinsure 80% of all R&Q’s new qualifying legacy transactions for three years, with R&Q participating in 20% in order to promote alignment of interest.

R&Q

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Samuel Casey
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