Randall & Quilter has decided to redomicile its holding company from the UK to Bermuda.
Under the redomicile proposal, all existing shares in Randall & Quilter will be exchanged for shares in Randall & Quilter Investment Holdings—the new Bermuda-based holding company for the Randall & Quilter group of companies.
“The introduction of a new Bermuda incorporated UK tax resident company as parent of the [Randall & Quilter group of companies] is being proposed for regulatory, operational and commercial reasons,” said the firm in a recent statement.
Randall & Quilter's board of directors believes that by being based in Bermuda, the company will be able to develop an improved regulatory and operational platform to support continued growth and development.
The move has also been marked as an “integral step” of the firm's aim to secure enhanced transparency and certainty on its medium to long-term capital requirements in the face of a series of delays in the implementation of the Solvency II regime for European-based insurance groups.
