Randall & Quilter Investment Holdings has acquired a captive insurer domiciled in Vermont, its third captive acquisition so far in 2020.
The company, which is now in run-off, wrote workers' compensation, general and auto liability coverage to its parent and affiliates.
The acquisition, which has received regulatory approval, provides full legal finality. R&Q plans to merge the captive into its Vermont captive consolidator insurer, ICDC, subject to prior regulatory approval.
Paul Corver, group head of M&A at R&Q, said the acquisition “required collaboration amongst R&Q, the fronting carriers, and the seller in order to provide full finality.”
Randall & Quilter, ICDC, Paul Corver