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Randall and Quilter to Acquire Vermont Captive Insurer
Monday 29 June 2020

UK-based non-life global speciality insurance company Randall and Quilter Investment Holdings Ltd. (AIM-RQIH) has acquired Vermont-domiciled captive insurer to merge into Vermont ICDC Ltd., the company said.

Terms of the transaction were not disclosed.

The company, which is now in run-off, wrote workers' compensation, general and auto liability coverage to its parent and affiliates.

The acquisition provides full legal finality and has received regulatory approval from the Vermont Department of Insurance.

R and Q operates two core, highly complementary, businesses: Programme 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.

Programme Management generates commission income from its licensed (and rated) carriers in the US, EU and the UK, writing niche and profitable programme business, largely on behalf of highly rated reinsurers.
Date Published: 29/06/2020