R&Q
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Gibson Re will be domiciled in Bermuda and reinsure 80% of R&Q’s new qualifying legacy transactions. -
The loss portfolio transfer gave an exit solution to investors in the ILS-backed legacy fund.
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R&Q executives have said managing legacy business on behalf of third parties is part of their strategy going forward.
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The legacy carrier still sees opportunities for large deals through such arrangements.
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A sidecar arrangement would allow the company to finance larger acquisitions, it said
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Ken Randall has stepped down from the role but stays with the group as chairman.
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The carrier completed 17 legacy acquisitions and reinsurance deals in 2018.
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Darren Bailey has been hired by the legacy insurer in a business development role for the firm’s M&A team.
