Acquisition

RNS Number : 5433U

Randall & Quilter Inv Hldgs Ltd

01 April 2019

 

Randall & Quilter Investment Holdings Ltd.

1 April 2019

Acquisition of Western Captive Insurance Company DAC

Further to its announcement on 2 October 2018, Randall & Quilter Investment Holdings Ltd. ('R&Q') is pleased to announce that it has received regulatory approval from the Central Bank of Ireland to complete the acquisition of the entire issued share capital of Western Captive Insurance Company DAC ('WCIC') from its owners, the Coffey Group.  R&Q intends to transfer the business to its Maltese rated company, Accredited Insurance (Europe) Limited, subject to regulatory and Irish court approval, following which WCIC will close.  

Commenting on today's announcement, Ken Randall, Chairman and Chief Executive Officer, said: "We are pleased to have completed the acquisition of WCIC. This transaction again demonstrates the wide range of legacy solutions that R&Q is able to deliver."  

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Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Ken Randall 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]

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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