Randall & Quilter Investment Holdings (R&Q) has acquired a Vermont-based captive insurer.
The company, which is now in run-off, wrote workers’ compensation, general and auto liability coverage to its parent and affiliates.
The acquisition provides full legal finality and has received regulatory approval from the Vermont Department of Insurance.
R&Q will merge the newly acquired company into R&Q’s Vermont captive consolidator insurer ICDC, subject to prior regulatory approval.
Paul Corver, group head of M&A at R&Q said: “We are pleased to have completed this acquisition which required collaboration amongst R&Q, the fronting carriers, and the seller in order to provide full finality.”
“This marks the third captive acquisition so far in 2020 and we are delighted to continue to serve the captive market, throughout a variety of domiciles in North America,” he added.
