R&Q writes novation for Barbados captive

Randall & Quilter Investment Holdings has completed 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.

“We are delighted to have completed this transaction which further broadens R&Q’s field of activity across North America and the Caribbean,” said Ken Randall, chairman and CEO of R&Q. “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.”