6 January, 2017
News

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 - Randall & Quilter Investment Holdings plc published this content on 06 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 January 2017 10:43:07 UTC.

Original documenthttp://www.rqih.com/rq-completes-novation-from-an-arizona-captive/

Public permalinkhttp://www.publicnow.com/view/FA65A47FC10B4B07D931CC7A3722F73B6A145454