R&Q buys Bermuda captive in run-off

Make text smaller Make text larger

  • Captive purchase: Randall & Quilter has bought Bermudian-based Linco Ltd

    Captive purchase: Randall & Quilter has bought Bermudian-based Linco Ltd


Bermudian-based firm Randall & Quilter has purchased an island-based captive in run-off.

The London Stock Exchange-listed company announced this morning that it had acquired Linco Ltd, the captive insurer of Ameripride Services Inc and Alsco Inc.

The transaction is subject to regulatory approvals, anticipated within 30 days.

Linco provided reinsurance coverage to its shareholders for workers’ compensation, general and automotive liability. The captive ceased writing new business and went into run-off at the start of 1985.

The terms of the deal were not disclosed.

Ken Randall, chairman and chief executive officer of R&Q, said: “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 run-off market.”

R&Q’s head office is in the FB Perry Building on Church Street, Hamilton. Its shares closed unchanged at 123.5p in London trading yesterday.

You must be registered or signed-in to post comment or to vote.

Published Mar 21, 2017 at 9:41 am (Updated Mar 21, 2017 at 4:37 pm)

R&Q buys Bermuda captive in run-off

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • When will Michael Dunkley call the next General Election?
    • May
    • 5%
    • August
    • 25%
    • December
    • 70%
    • Total Votes: 6589
    • Poll Archive

    Today's Obituaries