Randall & Quilter has started 2019 by completing two new transactions relating to exit solutions in the self-insurance and captive markets.
The firm has completed the transaction to assume the workers' compensation liabilities of a Vermont-based self-insurer by R&Q's wholly owned A- rated carrier, Accredited Surety and Casualty Company.
This deal provided full finality to the self-insurer and has removed the barrier for the ultimate dissolution of its workers’ compensation trust.
R&Q has also completed 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).
The group captive provided workers' compensation coverage to its members throughout the US.
“These two transactions demonstrate our ability to once again provide exit solutions to the self-insurance space and reinforces our market leading position in providing captive exit solutions," said Ken Randall, chairman and CEO of R&Q.
R&Q, Run-off, Vermont, Cayman Islands