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Randall & Quilter unit receives regulatory approval for portfolio transfer

R&QInsurance (Malta) Ltd. received regulatory approvals for aportfolio transfer agreement of certain contracts relating to legacy exposuresoriginally underwritten by AviabelSA, a Belgian firm specializing in aviation insurance andreinsurance.

"R&Q has now removedthese liabilities completely from Aviabel," said Chairman and CEO Ken Randall.

The Randall & Quilter unit hadreinsured the affected contracts prior to the transfer from Aviabel. TheMaltese company was incorporated in 2013 for the purpose of consolidating ownedand acquired insurance, reinsurance and captive portfolios from across Europe.