20th Sep 2018 13:56
LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd said Thursday its subsidiary agreed to accept a novation of commercial general liabilities of a Barbados based captive.
The insurance company said the Barbados captive reinsured the liabilities of its Canadian corporate parent.
Randall & Quilter said the liabilities were novated into its Bermuda based segregated account company.
Chairman and Chief Executive Officer Ken Randall said: "We are delighted to have completed this transaction which further broadens Randall & Quilter'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."
Shares in Randall & Quilter were flat on Thursday at 188.25 pence each.
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