Randall & Quilter (R&Q), the insurance services and investment company, has completed the novation of liabilities from Cayman-domiciled Golden Rule.
The liabilities, for policy years 2000–2003, will be placed with the R&Q owned segregated account company R&Q Quest (SAC).
Golden Rule provided workers’ compensation, general liability, auto liability and auto physical damage coverage to its members through reinsurance beginning on January 1, 2000. These policies were fronted by Travelers Indemnity Company.
Ken Randall, chairman and chief executive officer of R&Q, said: “We are pleased to complete this novation. It is another transaction that demonstrates our market leading position in providing captive exit solutions and we are pleased to have executed another deal in Cayman, one of the world’s premier captive domiciles.”