BaFin approves transfer of inwards reinsurance portfolio to Accredited Insurance (Europe) Limited

On 18 August, 2022 the German Federal Financial Supervisory Authority (BaFin) approved the transfer of Delvag's reinsurance portfolio to the acquirer Accredited Insurance (Europe) Limited, a subsidiary of Randall & Quilter (R&Q). 

Specifically, this transaction involves the underwriting portfolio of Delvag for contracts with a contract term until 31.12.2020. This includes both the inwards reinsurance business of Delvag Versicherungs-AG and the business of the former Delvag Rückversicherungs-AG (portfolio). The scope of the transfer includes all contracts underwritten by Delvag Re. This includes contracts for which claims or reserves have been reported, but also contracts that currently have no claims or reserves. 

Randall & Quilter (R&Q) Group, which includes Malta-based Accredited Insurance (Europe) Limited, is a global specialist in programme management and portfolio underwriting. Founded in 1991, R&Q is listed on the Alternative Investment Market (AIM) 100 Index of the London Stock Exchange and is recognised as a leading provider of finality solutions for run-off portfolios. 

The transfer of the reinsurance portfolio was already decided and contractually agreed in 2021, but was subject to approval by BaFin. With the approval of BaFin this week, the transaction can be completed as planned. 

In the field of reinsurance, Delvag will in future focus solely on the assumption and financing of Group risks and the provision of services as the Group captive of Lufthansa Group. 

From Corporate Communications Delvag Group
Delvag Versicherungs-AG
Tel. +49 221 8292-309
kommunikation@delvag.de