Randall & Quilter (R&Q) has acquired Vigneron Insurance Company, a Montana captive insurer, from a wholly owned private investment holding company.
R&Q intends to merge Vigneron Insurance Company into R&Q’s Vermont captive consolidator insurer, ICDC in Q1 2020, subject to regulatory approval.
The captive underwrites deductible reimbursement policies to cover the obligations under insurance policies taken out by affiliated entities.
Ken Randall, executive chairman of R&Q, said: “We are pleased to have completed the acquisition of Vigneron Insurance Company, our first transaction in Montana, and provided Vigneron Insurance Company’s parent company with legal and economic finality for its captive.”
Randall also revealed that he “looks forward to closing more transactions in the coming weeks”.
