21 October 2016,
Transfer Agreement of run-off business from Aviabel S.A. to R&Q Insurance
pleased to confirm that at the end of September 2016, regulatory approval has
been granted for a Portfolio Transfer Agreement of certain contracts relating
to legacy exposures originally underwritten by Aviabel S.A. to Randall &
Quilter Insurance (Malta) Limited (RQIM). Prior to the transfer, RQIM had
reinsured these contracts.
encompasses a limited portfolio of legacy exposures from old underwriting years
in run off. This portfolio of legacy exposures is considered as non-core to
the current activities of Aviabel as a specialist aviation insurer and reinsurer.
to the current activities of Aviabel results from this portfolio transfer.