Completion of Acquisition

RNS Number : 3552V

Randall & Quilter Inv Hldgs Ltd

07 August 2020

 

Randall & Quilter Investment Holdings Ltd.

R&Q completes acquisition of NationsBuilders Insurance Company

7 August 2020

Further to an announcement on 5 June 2020, Randall & Quilter Investment Holdings Ltd. (AIM-RQIH) ("R&Q"), is pleased to announce its wholly owned Vermont subsidiary, ICDC, Ltd, has completed the acquisition of NationsBuilders Insurance Company ("NBIC"), a Washington D.C. domiciled captive from NationsBuiders Insurance Services.

Paul Corver, Group Head of M&A at R&Q, commented: "We are pleased to have completed the acquisition of NBIC. This marks our third captive legacy acquisition in 2020. R&Q is well positioned to take on books of business of all sizes and we expect to announce further legacy transactions before the end of the year."

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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