Acquisition

RNS Number : 8523A

Randall & Quilter Inv Hldgs Ltd

27 January 2020

 

Randall & Quilter Investment Holdings Ltd. ("R&Q")

Acquisition of Montana Captive Insurer

27 January 2020

R&Q is pleased to announce it has acquired the Montana captive insurer, Vigneron Insurance Company, Inc. ("VICI"), from a wholly owned private investment holding company with diverse holdings in a variety of industries, real estate, marketable securities and other investments.

VICI underwrote deductible reimbursement policies to cover the obligations under insurance policies taken out by affiliated entities.

R&Q intends to merge VICI into R&Q's Vermont captive consolidator insurer, ICDC Ltd., in Q1 2020, subject to regulatory approval.

Ken Randell, Executive Chairman of R&Q, explained: "We are pleased to have completed the acquisition of VICI, our first transaction in Montana, and provided VICI's parent company with legal and economic finality for its captive.

Our legacy pipeline remains strong across the Group and we look forward to closing more transactions in the coming weeks."

Ends

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 Dru Danford / Stephane Auton Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

Notes to Editors:

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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