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1 June, 2016
Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce the novation of liabilities for policy years 2003 – 2011 from Westland Insurance Company (“Westland”), a Cayman domiciled entity, to the R&Q owned segregated account company in Bermuda, R&Q Quest (SAC) Limited.
The captive provided Workers’ Compensation, General Liability, Auto Liability and Auto Physical Damage coverage to its members through reinsurance beginning on September 1, 2003. These policies were fronted by Travelers Indemnity Company.
Ken Randall, Chairman and Chief Executive Officer of R&Q, explained “We are pleased to complete another novation, which continues to demonstrate our market leading position in providing captive exit solutions. It is one of several recent transactions that we have executed in Cayman, one of the world’s premier captive domiciles”.
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