Latest acquisition a “new growth avenue” for R&Q

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Because of the deal, R&Q will present claims and administration companies, whereas Obra – which not too long ago rebranded from Vida Capital – will present funding administration companies to the corporate. The transaction allowed MSA Security to take away all legacy cumulative trauma product legal responsibility reserves, associated insurance coverage property, and related deferred tax property of the subsidiary from its steadiness sheets.

“We’re happy to kind a three way partnership with Obra to accumulate and professionally handle these legacy liabilities, offering MSA Security with an entire finality resolution,” stated William Spiegel, govt chairman of R&Q. “That is an thrilling transaction for R&Q, showcasing the capabilities, fame and innovation of our legacy insurance coverage enterprise.

“It will see our reserves and non-insurance liabilities beneath administration enhance to over $1 billion, comprising two swimming pools: conventional insurance coverage reserves through Gibson Re, and non-insurance legacy liabilities, furthering our purpose of changing into a supervisor of legacy liabilities.”

“Whereas we’ve been offering legacy insurance solutions to insurers, reinsurers and company captives for many years, this transaction opens up a brand new development avenue in offering related companies for non-insurance company liabilities,” stated Andrew Pinkes, CEO of legacy insurance coverage at R&Q. “This transaction is a robust demonstration of R&Q’s experience in underwriting and managing long-tailed liabilities, in addition to our modern method to structuring and delivering complete finality options.”

Learn subsequent: What will broker M&A activity look like in 2023?

“With our workforce’s many years of expertise investing in, managing and servicing long-dated liabilities, we’re excited to companion with R&G on this legal responsibility resolution,” stated Blair Wallace, CEO of Obra Capital. “The transaction highlights each our means to deploy capital into such a threat in addition to {our capability} of specializing in focused funding returns in a portfolio framework that considers each asset threat and the legal responsibility necessities for a broad number of legal responsibility varieties.”

“This transaction highlights Obra’s numerous funding capabilities, starting from deploying opportunistic capital into specialty threat conditions to leveraging our extra conventional funding capabilities throughout a wide range of fixed-income capital markets to reinforce investor returns,” stated Peter Polanskyj, head of structured credit score at Obra.

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