Randall & Quilter Investment Holdings has announced the completion of a transaction to provide full finality to a California based self-insurer by R&Q’s wholly owned subsidiary, Accredited Surety and Casualty Company.
This deal marks the second transaction with a self-insurer in California and the fifth nationwide over the past two years.
“We continue to provide solutions to the self-insurer space and this transaction shows our ability to build upon previous success and experiences with various states across the U.S,” said Ken Randall, Chairman and Chief Executive Officer of R&Q.
Additionally, R&Q has announced the completion of a novation of the workers’ compensation and commercial auto liabilities of a Cayman-based group captive that provided coverage to trucking companies located throughout the US.
The liabilities were novated into R&Q’s segregated account company in Bermuda.
R&Q was able to provide a solution to the captive that provided full finality on its older insurance years.
The company says it continues to remain “capable and enthusiastic to meet the captive market’s growing demand for exit solutions related to legacy liabilities.”
“We are delighted to complete another novation with a group captive,” added Randall. “This transaction shows our continued focus on being the go-to counter-party for exit solutions in the captive market.”