Following a previous announcement on June 5, 2020, Randall & Quilter Investment Holdings Ltd.’s (R&Q) wholly owned Vermont subsidiary, ICDC Ltd, has completed the acquisition of NationsBuilders Insurance Co. , a Washington D.C.-domiciled captive from NationsBuiders Insurance Services.
This marks R&Q’s third captive legacy acquisition in 2020, according to Paul Corver, group head of M&A at R&Q, in a company press release. He added that R&Q expects to announce further legacy transactions before the end of the year.
R&Q is a non-life global specialty insurance company operating two businesses: Program Management and Legacy Insurance. Legacy Insurance generates profits and capital extractions from management of legacy nonlife insurance portfolios. Program Management generates commission income from its licensed and rated carriers in the U.S., EU and the UK, writing niche program business, largely on behalf of reinsurers.
Source: Randall & Quilter Investment Holdings Ltd.
Was this article valuable?
Here are more articles you may enjoy.