• Strategy
  • Innovation
  • Expertise

Novation of Insurance Liabilities

11 September, 2018

Randall & Quilter Investment Holdings Ltd (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned Guernsey subsidiary, Capstan Insurance Limited, has signed an agreement to accept a novation of the insurance liabilities of the Sitex Cell in Windward Insurance PCC Limited, from its owners, Orbis Protect Limited (“Orbis”). The SITEX Cell insured the deductible amounts payable under Liability policies, including Employers’ Liability, for the years 2004 to 2014.

The residual liabilities, which will be managed by R&Q, comprise primarily of Employer’s Liability deductible exposures arising in the UK.

Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said: “We are delighted to announce this transaction with Windward Insurance PCC Ltd which demonstrates R&Q’s appetite and ability to provide flexible exit solutions to owners of discontinued insurance businesses.

“We have a strong pipeline of acquisitions and expect to announce a number of additional transactions before the end of the year.”

Click here for the full press release.

Novation of Insurance Liabilities

Latest News

Result of General Meeting
Result of General Meeting

Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) (the “Company”), the Bermuda based global program underwriting management and legacy acquisitions specialist, today held the General Meeting referred to in the notice to shareholders of the Company dated 4 September 2018. The …

R&Q writes Novation for Barbados based captive
R&Q writes Novation for Barbados based captive

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 …

Interim results for the 6 months ended 30 June 2018 and trading update.
Interim results for the 6 months ended 30 June 2018 and trading update.

The Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH), the specialist non-life legacy insurance investor and capacity provider to US and European MGA business, announces the Group’s interim results for the 6 months ended 30 June 2018. Operational Highlights …