Bermuda insurer & reinsurer Quanta Capital Holdings has announced that it will have no other option but to place its US, Bermuda & European business into run-off if it fails to find a buyer for the company.

The business written through Lloyd’s Syndicate 4000 & engineering company ESC will, however, not be placed into run-off due to their commercial viability and obvious attraction as a business platform.

Quanta chairman James Ritchie has stated the company is currently assessing the interest from various outside parties and narrowing down the more viable opportunities.