R&Q Insurance Holdings Ltd. confirmed that on June 21 it had filed with the Bermuda Supreme Court an application to appoint joint provisional liquidators to oversee the liquidation and ultimately the winding up of the company.
The company anticipates that this process will result in the prompt closing of the sale of the companys program management business, Accredited, to funds advised by Onex Corp.
The board believes that this will provide the best possible result in the circumstances for the companys stakeholders, R&Q said.
R&Q has faced adverse loss development in its core legacy acquisition business, unexpected costs and expenses connected to the sale of Accredited, as well as the inability to consummate e…
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