R&Q to acquire ICI captive
R&Q has acquired the Montana captive insurer Vigneron Insurance Company, and promised more acquisitions in the coming weeks.
R&Q plans to merge the business, its first acquisition in Montana, into its Vermont captive consolidator insurer, ICDC in Q1, subject to regulatory approval.
Vigneron underwrote deductible reimbursement policies to cover the obligations under insurance policies taken out by affiliated entities. R&Q bought the business from a wholly owned private investment holding company with diverse holdings in a variety of industries and other investments.
Ken Randall, executive chairman of R&Q, said the transaction provided Vigneron’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,” Randell said.
R&Q, Ken Randall, Vigneron Insurance Company