Randall & Quilter Investment Holdings has completed the novation of liabilities for policy years 2000-2003 from Golden Rule, to the R&Q owned segregated account company R&Q Quest.
Golden Rule, domiciled in the Cayman Islands, provides workers compensation, general liability, auto liability and auto physical damage coverage to its members through reinsurance beginning 1 January 2000. These policies were fronted by Travelers Indemnity Company.
Ken Randall, chairman and CEO of R&Q, explained: “We are pleased to complete this novation. It is another transaction that demonstrates our market leading position in providing captive exit solutions and we are pleased to have executed another deal in Cayman, one of the world’s premier captive domiciles”.
