R&Q opts for provisional liquidation

Accredited owner R&Q Insurance Holdings has decided to file for provisional liquidation in Bermuda and sell the fronting business through that route.

Trading in R&Q shares on the London Stock Exchange has now been suspended.

R&Q flagged the liquidation possibility last week.

Last September R&Q admitted it was in advanced discussions with Canadian investment business Onex to sell Accredited.

In October it revealed a conditional agreement for a $465m (£382.7m) deal which, as of this April, was expected to close before the end of June.

However, on 13 June the business stated that during discussions the potential buyer brought forward an alternative

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