Randall & Quilter Investment Holdings Ltd. (R&Q) has successfully completed the assignment of insurance liabilities under deductible policies, in relation to workers’ compensation policies that were issued between 1988 and 2012.
The underlying liabilities relate to policies issued to a U.S. corporate via a large U.S. carrier, explains R&Q, with the outstanding liabilities estimated to be circa $24 million. The transaction enabled the carrier to assign insurance liabilities under deductible policies, which provides full finality to the corporate, with the carrier remaining fully collateralised.
Chairman and Chief Executive Officer (CEO) of R&Q, Ken Randall, commented; “We are pleased to complete this assignment with a large US carrier. This transaction is a further example of R&Q’s innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q while keeping the original carrier fully collateralized.”
