R&Q
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The legacy manager and program specialist will hand shareholders one ordinary share for each 22 they own in lieu of a dividend.
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Alan Quilter has been serving in the position on an interim basis since the resignation of Tom Booth.
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The legacy and program specialist raises funds to capitalise on an expected market dislocation.
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The purchase is the latest in a string of deals for R&Q, including an agreement with the UK P&I Club last month.
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The book of occupational disease liability is highly volatile and payouts can be significant.
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The executive resigns less than a year into the job and two days after R&Q named a PE veteran as chairman Ken Randall's successor. -
The Pine Brook founder (pictured) becomes deputy chairman immediately and will take the chairman's role in about a year's time.
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The acquirer pays a symbolic $1mn for the loss-making Barbadian business.
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The manager will continue part time in an executive role advising on claims and reinsurance for group legacy companies.
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The Los Angeles-based company serves the habitational, commercial and hospitality sectors and community associations.
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The recruit will optimise the structure of the legacy carrier’s acquired run-off assets.
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The executive also played down competition in the legacy space.
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