28 November, 2018
Transaction from California self-insured
Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce the completion of a transaction to provide full finality to a California based self-insurer by R&Q’s wholly owned subsidiary, Accredited Surety and Casualty Company, Inc. (“Accredited”). This is the second transaction with a self-insurer in the state of California and the fifth across the U.S. over the past 2 years.
Ken Randall, Chairman and Chief Executive Officer of R&Q, explained: “We continue to provide solutions to the self-insurer space and this transaction shows our ability to build upon previous success and experiences with various states across the U.S.”
Novation for Cayman based Group Captive
R&Q is also pleased to announce the completion of a novation of the workers’ compensation and commercial auto liabilities of a Cayman based group captive that provided coverage to trucking companies located throughout the U.S. The liabilities were novated into R&Q’s segregated account company in Bermuda. R&Q was able to provide a solution to the captive that provided full finality on its older insurance years. R&Q continues to remain capable and enthusiastic to meet the captive market’s growing demand for exit solutions related to legacy liabilities.
Ken Randall, Chairman and Chief Executive Officer of R&Q, explained “We are delighted to complete another novation with a group captive. This transaction shows our continued focus on being the go-to counter-party for exit solutions in the captive market.”
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A.M. Best has affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a -“ of Accredited Surety and Casualty Company, Inc. (“ASC”) and Accredited Insurance (Europe) Limited (“AIEL”). ASC and AIEL are wholly owned …
Further to the announcement made on 7 February 2019 by the Company that it has conditionally raised gross proceeds of approximately £100 million through an oversubscribed placing of new ordinary shares (the “Placing”) and it is proposing to raise gross …
R&Q is pleased to announce that it has conditionally raised gross proceeds of approximately £100 million through an oversubscribed placing of new Ordinary Shares to investors and is proposing to raise gross proceeds of up to a further c. £7 million …