The Insurance Business Transfer (‘IBT’) of a portfolio of Sentry Insurance Company formerly known as Sentry Insurance a Mutual Company (‘Sentry’) reinsurance policies to National Legacy Insurance Company (‘NLIC’), a wholly owned subsidiary of Randall & Quilter Investment Holdings Ltd., was approved by the Oklahoma Insurance Commissioner on 23rd November 2020. The transfer was approved under the Insurance Business Transfer Act (36 O.S. 1681-1688) (the ‘IBT Act’). The policies relate to Sentry’s involvement as a member of the Excess & Casualty Reinsurance Association pool (‘ECRA’).
Modelled on the successful Part VII transfer process in the UK and EU, the Oklahoma IBT legislation provides a mechanism for insurers to legally transfer (re)insurance business to another insurance company following consultation with stakeholders and a Court hearing.
The insurance Business Transfer was approved by the District Court of Oklahoma County, Oklahoma on August 26, 2021. A copy of the court order can be found below.
Please refer to the attached documents for further information.
Queries or questions can be sent to:
NLIC c/o Randall & Quilter Investment Holdings Ltd., 71 Fenchurch Street, London EC3M 4BS, England (Ref: Sunny Dhinsey) or by emailing firstname.lastname@example.org.
NLIC c/o Randall & Quilter Investment Holdings Ltd., Two Logan Square, 100 North 18th Street, Suite 600, Philadelphia PA 19103, USA (Ref: Abby Holmes) or by emailing email@example.com or by telephoning 877 514 3542 US toll free.