-
The regulator has also paused the redemption of the company’s $20mn Tier 2 floating-rate subordinated notes.
-
Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
-
The consideration is expected to be around $140mn plus a $25mn dividend.
-
-
The R&Q share price has plummeted since the sale of the ~$1.8bn-premium fronting arm was announced 10 days ago.
-
The revised status follows the recent announcement that R&Q Insurance Holdings has agreed a sale of its Accredited program.
-
R&Q said it expects ongoing operating losses after the sale as it works on transitioning its legacy business to a fee-based model, with plans to explore further transactions to de-risk and reduce volatility.
-
R&Q CEO William Spiegel will transfer to the Accredited program management business.
-
Although the total deal values for 2022 and 2023 were almost identical, PwC noted that one-third fewer deals were announced in the more recent half-year period.
-
Catalina put its Irish subsidiary up for sale in May as it looks to streamline operations.
-
-
The insurer has been working to build a reputation for favorable reserve development after past sins.