Acquisition

RNS Number : 4937W

Randall & Quilter Inv Hldgs Ltd

19 August 2020

 

Randall & Quilter Investment Holdings Ltd.

Acquisition of Inceptum Insurance Company Limited

19 August 2020

Randall & Quilter Investment Holdings Ltd. ('R&Q' or 'the Group') is pleased to announce that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement to acquire, subject to regulatory approval, the entire issued share capital of Inceptum Insurance Company Limited('Inceptum') ('the Company'). Inceptum was incorporated in England & Wales in 1998. The Company was placed into run-off in September 2009 and sold by the HSBC group to Syndicate Holding Corp. on 30 September 2011. Inceptum is part of the Vibe Group of companies.

Commenting on today's announcement, Paul Corver, Group Head of M&A at R&Q, said: "We are delighted to have agreed terms to acquire Inceptum. R&Q takes pride in providing finality for owners and we are pleased to see clear evidence of increased demand for legacy solutions throughout 2020. While logistically it has taken longer to complete deals due to Covid19, we are pleased to report that we have a healthy pipeline of opportunities and a number of further transactions which are nearing completion. We therefore look forward to announcing further legacy transactions over the course of the next few weeks."

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Paul Corver Tel: [phone] Numis Securities Limited Stuart Skinner (Nominated Adviser) Tel: [phone] Charles Farquhar (Broker) Tel: [phone] Shore Capital Stockbrokers Limited Stephane Auton/James Thomas Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

Notes to Editors:

About R&Q

R&Q is a non-life global specialty insurance company operating two core, highly complementary, businesses: Program Management and Legacy Insurance. Both these businesses are leaders in markets with high barriers to entry and significant secular growth opportunities.  

Legacy Insurance generates profits and capital extractions from expert management of legacy non-life insurance portfolios. Program Management generates commission income from its licensed (and rated) carriers in the US, EU and the UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.

For the financial year ended 31 December 2019 R&Q reported pre-tax profits of over £40 million.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website : www.rqih.com  

 

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