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.
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
BMW Recalls Hundreds of Thousands of Cars Over Fire Risk 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
