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Bermuda-based legacy insurer R&Q Insurance Holdings has signed a loss portfolio transfer (LPT) reinsurance agreement with a UK motor insurer. The signed agreement covers a net reserve of $80 million. The transaction is subject to regulatory approvals and other conditions of closing. Huw Battrick, co-head of legacy M&A at R&Q, commented: “We are pleased to … [Read more...] about R&Q completes LPT with UK motor insurer

Arrowood Indemnity Co., the runoff U.S. insurance operation of Royal & Sun Alliance Insurance Group PLC, was placed into liquidation on Thursday by the Chancery Court of Delaware. Arrowood estimated that for the third quarter, its projected future claims and expenses exceeded its assets by about $17 million, according to the complaint seeking liquidation that was filed … [Read more...] about Royal & Sun Alliance US runoff Arrowood placed into liquidation

GREENSBORO, N.C.–(BUSINESS WIRE)– Arch U.S. MI Holdings (Arch MI), a wholly owned subsidiary of Arch Capital Group Ltd., today announced it has entered into a definitive agreement to acquire RMIC Companies, Inc. (RMIC) and its subsidiaries that together comprise the run-off mortgage insurance business of Old Republic International Corporation. Once the transaction is … [Read more...] about Arch MI to Acquire RMIC Companies, Inc.