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Randall & Quilter completes novation on Georgia Atlantic Insurance policies

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Randall & Quilter completes novation on Georgia Atlantic Insurance policies

Randall & Quilter Investment Holdings Ltd. has completed the novation of the workers' compensation, general liability, auto liability and auto property damages reinsurance policies issued by Georgia Atlantic Insurance Ltd. between 2002 and 2016.

Georgia Atlantic Insurance's estimated undiscounted reserves for these policies, adjusted for recently paid claims, is about $21.5 million. The policies were novated to a Randall & Quilter-owned cell in its Bermuda-based segregated account company, R&Q Quest Insurance Ltd.

Georgia Atlantic Insurance Ltd. is a Bermuda-based captive of the Coca-­Cola Bottlers' Association Inc.