Randall and Quilter Investment (R&Q) has completed the assumption of auto liabilities from a Connecticut-domiciled risk retention group (RRG) to Accredited Surety and Casualty Company, R&Q’s wholly-owned admitted carrier.
The RRG, with estimated reserves of approximately $1.6 million, wrote auto liability policies in California in 2015.
The transaction, which was completed through Accredited, provided full finality to the RRG for the auto liabilities assumed, enabling the entity to wind up.
Ken Randall, chairman and CEO of R&Q, commented: “We are very pleased to announce our first assumption with an RRG was completed prior to year-end.”
“This transaction is evidence of our unique ability to provide finality solutions to US self-insurers through the use of Accredited and is an area which we are looking to expand in 2018.”
