Bermudian-based Randall & Quilter Investment Holdings Ltd has announced a reinsurance agreement to assume the legacy liabilities from the Bermudian captive of a US-based airline.

The reinsurance is written by the R&Q owned “A-” rated carrier, Accredited Insurance (Europe) Limited.

The company said the agreement follows a similar deal struck last year with the same counterparty and is now providing economic relief for additional policy years.

Ken Randall, executive chairman and co-founder of R&Q, said: “We are pleased to complete this follow-on transaction and build on our previous knowledge of the book and our client to again deliver an exit solution.

“We are always thrilled when mutual success on a particular deal leads to re-engagement with that counterparty on future transactions.”