R&Q writes novation for Barbados captive
Randall & Quilter Investment Holdings (R&Q) has agreed to the novation of the commercial general liabilities of a Barbados-based captive, which reinsured the liabilities of its Canadian corporate parent.
The liabilities were novated into R&Q’s Bermuda-based segregated account company.
Ken Randall, chairman and CEO of R&Q, said the firm was delighted by the transaction.
He explained: “[The transaction] further broadens R&Q’s field of activity across North America and the Caribbean.”
“We continue to work diligently with a number of captive owners on solutions for partial or full disposal of their liabilities freeing up capital and removing management distractions.”