Paul Corver, R&Q
27 November 2020Actuarial & underwriting

R&Q Re acquires a Bermuda captive

R&Q Re (Bermuda), a wholly owned subsidiary of Randall & Quilter Investment Holdings, has entered into a stock purchase agreement to acquire a Bermuda-domiciled captive insurance company.

The transaction, which is subject to customary closing conditions and regulatory approval, provides full finality for the seller after the captive was placed into run-off.

R&Q Re, a Class 3A reinsurer which is registered as a segregated account company, is R&Q’s primary legacy vehicle in Bermuda.

Paul Corver, group head of mergers and acquisitions at R&Q, said: “This continues a trend we’ve seen over the past six months or so where captive owners are seeking full and economic finality solutions. Whilst this transaction remains subject to regulatory approval, we have confidence in our ability to complete the transaction in a timely manner.”