Reinsurance News
Roosevelt Road Capital Partners
Roosevelt and Tradesman file lawsuit over alleged fraudulent WC claims
18th March 2024
Bermuda-based Roosevelt Road Re and its affiliate managing general agency Tradesman Program Managers (TPM) have filed a lawsuit to recover funds from 46 individuals and companies who made “potentially fraudulent claims” related to alleged New York City construction accidents The filed Racketeer Influenced and Corrupt Organizations Act (RICO) suit came after ... Read the full article
R&Q completes sale of 40% stake in MGA Tradesman
17th March 2023
Bermuda-based insurer R&Q Insurance Holdings has announced the completion of the sale of its 40% minority holding in the New York-based Managing General Agent, TPM Holdings USA, (Tradesman). In February, it was reported that R&Q had reached an agreement to sell its stake to Roosevelt Road Capital Partners, the controlling ... Read the full article
RRCP buyback secures 100% ownership of MGA Tradesman
23rd February 2023
Roosevelt Road Capital Partners (RRCP) has reached an agreement to buy back R&Q Insurance Holdings' 40% stake in New York-based MGA Tradesman. R&Q announced this morning that the total consideration is $47 million, subject to post-closing adjustments based on the 2022 audited financials of Tradesman. Approximately $41 million of the consideration ... Read the full article
R&Q raises stake in Tradesman; divests Roosevelt Road Re interest
18th March 2021
Randall & Quilter Investment Holdings Ltd. (R&Q) has reached an agreement to raise its stake in Tradesman Program Managers, LLC, a New York-based Managing General Agent (MGA), from 35% to 40%. R&Q acquired its stake in Tradesman Program Managers in August of last year through the merger of its wholly ... Read the full article
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