Bermudian specialist non-life re/insurance investor Randall & Quilter Investment Holdings Ltd. (R&Q) has announced the completion of its acquisition of GLOBAL U.S. Holdings Inc (Global US).
Global U.S is an investment vehicle managed by AXA Liabilities Managers SAS (AXA LM), the AXA unit that specialises in the management of legacy insurance and reinsurance business.
The transaction was valued at $80.5 million and represents R&Q’s biggest ever legacy takeover.
The company carried out the acquisition through its wholly owned U.S subsidiary, Randall & Quilter America Holdings Inc.
“We are delighted to have completed the acquisition of Global US,” said Ken Randall, Chairman and Chief Executive Office (CEO) of R&Q.
“This is the largest acquisition that R&Q has made to date and demonstrates our ability to provide exit solutions and our continuing penetration into larger deal activity,” he continued.
“R&Q is well positioned to take on books of business of this size in the future and our 2019 pipeline is strong.”
R&Q specialises in the management of legacy and non-life insurance acquisitions and reinsurance. It also writes niche program business through its carriers in the UK and EU/U.S, largely on behalf of highly rated reinsurers.
