R&Q expands Caribbean footprint with novation of Barbados captive | News

The liabilities were novated into R&Q’s Bermuda based segregated account company.

Ken Randall, chairman and chief executive officer of R&Q, said: “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.”

The transaction comes a day after R&Q unveiled its largest ever legacy acquisition with the $80.5mn purchase of Global Re, the US arm of reinsurer Gerling Global Re that went into run-off in 2002.

The run-off specialist also released its half year results yesterday, in which R&Q said it had enjoyed a “good performance…

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