Randall & Quilter Investment Holdings (R&Q) has assumed the auto liabilities from a Connecticut-based risk retention group (RRG) to R&Q's wholly owned carrier, Accredited Surety and Casualty Company.
With estimated reserves of approximately $1.6 million, the RRG wrote auto liability policies in California during 2015.
Through Accredited, R&Q has said the transaction will provide full finality to the RRG for the auto liabilities assumed, enabling the entity to wind up.
“We are very pleased to announce our first assumption with a risk retention group was completed prior to yearend," said Ken Randall, chairman and CEO of R&Q. "This transaction is evidence of our unique ability to provide finality solutions to U.S. self-insurers through the use of Accredited and is an area which we are looking to expand in 2018.”
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R&Q, Risk Retention Group, Captives, Casualty, Connecticut, North America