Randall & Quilter Investment Holdings (R&Q) has completed two new transactions in the captive insurance and self-insurance space.
The deal will see the company provide full finality to a California-based self-insurer by R&Q’s wholly owned subsidiary, Accredited Surety and Casualty Company.
The transaction is R&Q’s second with a self-insurer in California and the fifth across the US in the past two years.
Additionally, it has completed a novation of the workers’ compensation and commercial auto liabilities of a Cayman-based group captive that provided coverage to trucking companies across the US.
The liabilities were novated into R&Q’s segregated account company in Bermuda.
R&Q was able to provide a solution that provided the captive full finality on its older insurance years.
Ken Randall, chairman and CEO of R&Q, commented: “[The novation with another group captive] shows our continued focus on being the go-to counter-party for exit solutions in the captive market.”
“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 US.”