Randall & Quilter Investment Holdings Ltd. (R&Q) has completed a transaction to assume the Workers’ Compensation liabilities of a Vermont based self-insurer by R&Q’s wholly owned carrier, Accredited Surety and Casualty Company Inc.
The transaction provided full finality to the self-insurer and has removed the barrier for the ultimate dissolution of its Workers’ Compensation Trust. This marks R&Q’s sixth transaction with a self-insurer during the last two years.
R&Q also announced the novation of reinsurance policies issued between 2002 and 2009 from a Cayman domiciled group captive. The policies were novated into the R&Q owned segregated account company, R&Q Bermuda (SAC) Limited.
The group captive provided workers’ compensation coverage to its members throughout the U.S.
Source: Randall & Quilter Investment Holdings Ltd.
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