Randall & Quilter Investment Holdings Ltd. announced the novation of liabilities for policy years 2001 to 2011 from Arizona-domiciled PacWest Captive Insurance Company Inc. to the its segregated account company in Bermuda, R&Q Quest Ltd.
PacWest was formed in 2001 by Leavitt Group Enterprises to provide workers’ compensation coverage written by Leavitt-owned agencies. These policies were fronted by The Hartford and have been in runoff since June 30, 2011. Reserves for the policy years being novated are estimated at $4.4m as at Aug. 31, 2016.
R&Q is a Bermuda-based company listed on the London Stock Exchange’s Alternative Investment Market specializing in a variety of insurance products and services.
Was this article valuable?
Here are more articles you may enjoy.
Zurich Insurance Earnings Boosted by Global Data Center Demand 
Law Restricts Her From Reducing ‘Excessive’ $91M Injured Worker Award, Judge Finds 
Bring It On: AI Strategy Sways Underwriter Choices of Employers 
Plymouth Rock Launches ChatGPT for Home Insurance Quotes 
