R&Q writes Novation for Barbados based captive

RNS Number : 3125B
Randall & Quilter Inv Hldgs Ltd
20 September 2018
 

 

 

Randall & Quilter Investment Holdings Ltd.

 

R&Q writes Novation for Barbados based captive

 

20 September 2018

 

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce 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 Chief Executive Officer of R&Q, explained "We are delighted to have completed this transaction which 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."

 

Ends

 

 



Enquiries to:

 

Randall & Quilter Investment Holdings Ltd.

www.rqih.com

Ken Randall

Tel: 020 7780 5945

 

Numis Securities Limited

Stuart Skinner (Nominated Adviser)

Tel: 020 7260 1000

Charles Farquhar (Broker)

Tel: 020 7260 1000

 

Shore Capital Stockbrokers Limited

Dru Danford / Stephane Auton

 

Tel: 020 7408 4090

FTI Consulting

Edward Berry/Tom Blackwell

 

Tel: 020 3727 1046

 

 


 Notes to Editors:

 

 About R&Q

 

 The overall mission of the Bermuda based Group is to:

 

·      Generate profits and capital extractions from expert management of legacy non-life insurance acquisitions/reinsurances, including in Lloyd's; and

·      Grow commission income from its licensed (and rated) carriers in the US and EU/UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.

 

Our aim is to continue to grow sustainable profit streams to support our business model and increase book value and cash distributions to shareholders.

 

The Group was founded by Ken Randall and Alan Quilter in 1991.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

Website: www.rqih.com

 


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