Randall & Quilter Investment Holdings (R&Q) has announced the completion of a transaction to provide full finality to a California-based self-insurer by Accredited Surety and Casualty Company, R&Q’s wholly owned subsidiary. This is the second R&Q transaction with a self-insurer in California and the fifth across the US in the last 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 US,” said Ken Randall, chairman and CEO of R&Q.
The company has also 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 in the US. The liabilities were novated into R&Q’s segregated account company in Bermuda, the company said.
“We are delighted to complete another novation with a group captive,” Randall said. “This transaction shows our continued focus on being the co-to counter-party for exit solutions in the captive market.”