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R&Q completes novation from an Arizona Captive

6 January, 2017

Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce the novation of liabilities for policy years 2001-2011 from PacWest Captive Insurance Company, Inc. (“PacWest”), an Arizona domiciled entity, to the R&Q owned segregated account company in Bermuda, R&Q Quest (SAC) Limited.

PacWest was formed in 2001 by Leavitt Group Enterprises to provide workers compensation coverage written by Leavitt-owned agencies. These policies were fronted by The Hartford and have been in runoff since June 30, 2011. Reserves for the policy years being novated are estimated to be c.$4.4m as at August 31, 2016.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained “We are pleased to complete this novation with PacWest, which further demonstrates our market leading position in providing captive exit solutions. This novation caps off a fantastic year of legacy transactions for R&Q, with prospects for 2017 looking even brighter”.

Click here for the full Press Release

R&Q completes novation from an Arizona Captive

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