Randall & Quilter (R&Q) American Holdings has snapped up the Bermuda reinsurance captive of AmeriPride Services and Alsco.
Linco Limited, domiciled in Bermuda and reinsurer of worker’s compensation and general and automotive liability for the uniform rental and linen supply companies, went into runoff in 1985.
The sale of Linco is still subject to regulatory approvals, which R&Q expects to receive within 30 days.
Ken Randall, chairman and CEO of R&Q, commented “We are delighted to announce the acquisition of Linco, subject to regulatory approvals. This transaction continues to demonstrate our market leading position, providing captive legacy solutions across Bermuda, North America and Europe. This is further proof of our rapidly growing success in the runoff market.”
