The UK P&I Club has transferred its occupational disease liabilities to subsidiaries of insurance specialist Randall & Quilter (R&Q).

The London-based protection and indemnity mutual said removing the pending liabilities from its books would improve its financial position.

Occupational disease liability can negatively impact a club’s capital outlook and risk appetite.

Ken Randall, executive chairman of R&Q

UK P&I Club chairman Nicholas Inglessis said: “Transferring these claims to a recognised and well-regarded occupational disease specialist, such as R&Q, will significantly improve the club’s capital position and bring finality to a highly volatile book of claims.