Petroleum Casualty Auto Insurance Review

Petroleum Casualty Insurance Company was bought out by Randall & Quilter Group Investment Holdings Ltd, which boasts an A++ rating from A.M. Best.

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Company Details

Address:

4550 Dacoma Suite 807

City:
Houston
State:
TX
ZIP Code:
77092-8614
Phone Number:
800-323-4416
Year Founded
1926
AM Best Rating:
A++
Company Rating 0 (0 reviews)

Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Written by

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
Licensed Insurance Agenthttps://res.cloudinary.com/quotellc/image/upload/insurance-site-images/aiorg-live/d98a9f52-daniel-walker.png

UPDATED: Apr 17, 2020

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Petroleum Casualty Insurance Company was part of Exxon Mobil risk management which was the parent company of Ancon Insurance and Petroleum Casualty Group. Ancon Insurance was based out of Burlington, Vermont. However, Petroleum Casualty Insurance Company was originally based out of Houston, Texas.

Little info on Petroleum Casualty can be found, so much of the article that follows is on its parent and holding company.

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In 2006, Randall & Quilter Group Investment Holdings Ltd. (R&Q) purchased Ancon Insurance in a deal with ESSO Holding Company which is the foreign division of Exxon Mobil. The company was to be renamed Arran Insurance Company Limited. However, in 2009, Arran Insurance Company Limited was acquired by Chevanstell Limited which is also a subsidiary of R&Q.

Petroleum Casualty Insurance Company

There is very little information on Petroleum Casualty Insurance Company as they are hidden under the R&Q umbrella. Their insurance is handled through independent agents, but it is unclear where the agents currently located. However, Houston still appears to be the headquarters for business done under the Petroleum Casualty name at the following location:

4550 Dacoma Suite 807
Houston, TX 77092-8614

The contact number for Petroleum Casualty Insurance is as follows: (800) 323-4416.

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Petroleum Casualty Auto Insurance and R&Q Holdings Ltd

  • R&Q Holdings Ltd. provides a back office service for supporting and managing insurance companies. They cover all aspects of the claims, reinsurance management, broker services, and other necessary transactions in order to run a successful business.
  • R&Q Holdings Ltd. provides a service to over 25 clients in the United States, United Kingdom, and continental Europe. The claims team services insurance and reinsurance agencies, Lloyd’s companies, and underwriting pools.
  • R&Q handles all job functions that would normally be a part of a claims department. They review all policies, adjust and settle claims, maintain and ensure funding of claims reserves, resolve claims, process insurance claims in a timely fashion, and reduce liabilities.
  • R&Q Holdings Ltd. provides broker services in the United Kingdom only. They assist with broker liquidations which is the acquiring of the brokers portfolio. They also audit the broker’s portfolio, and collect claims and debts.

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Petroleum Casualty Auto Insurance and R&Q Holdings Ltd. Captives

R&Q Holdings Ltd. maintains many captives under its umbrellas. Captives are insurance companies formed to insure or reinsure the risks of its parent companies. Captives handle their parent company’s risk financing needs.

A captive can run as an insurance company directly issuing policies to subsidiaries or as a reinsurance company who takes on the risk of commercial insurers. They usually underwrite automobile casualty insurance.

R&Q Holdings Ltd. is licensed in Bermuda and Washington D.C. to acquire insurance companies as captives.

Petroleum Casualty Auto Insurance and R&Q Holdings Ltd. U.S. Locations

R&Q Holdings Ltd. maintains offices in Boston, New York, and Philadelphia at the following addresses:

101 Market Street
Boston, MA 02110

(857) 300 4120

400 Madison Avenue
Suite 5B
New York, NY 10017

(646) 753-8000

United Plaza
30 South 17th Street
Suite 715
Philadelphia, PA 19103

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