Randall & Quilter Inv Hldgs Ltd Acquisition
27 Gennaio 2020 - 8:00AM
RNS Non-Regulatory
TIDMRQIH
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 www.rqih.com
Ltd.
Ken Randall Tel: 020 7780 5945
Numis Securities Limited
Stuart Skinner (Nominated Adviser) Tel: 020 7260 1000
Charles Farquhar (Broker) Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
Dru Danford / Stephane Auton Tel: 020 7408 4090
FTI Consulting
Edward Berry/Tom Blackwell Tel: 020 3727 1046
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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END
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