R&Q sees sale as positive for Bermuda jobs

Make text smaller Make text larger

  • Upbeat on jobs: Randall & Quilter has recruitment plans for its remaining Bermuda operations

    Upbeat on jobs: Randall & Quilter has recruitment plans for its remaining Bermuda operations


The sale by Randall & Quilter of part of its business will prove a net positive for jobs in Bermuda.

That is the view of R&Q, which is based in the FB Perry Building on Church Street and which said it has hiring plans for its remaining Bermuda operations.

On Monday, R&Q announced it had sold its insurance services and captive management operations to UK-based Davies Group in a deal worth £20 million ($27.6 million).

The purchase included Randall & Quilter Bermuda Holdings Ltd and its Quest subsidiaries.

Asked about the impact on employment on the island, R&Q said: “The transaction will be good for jobs in Bermuda.

“Davies will be looking to invest in and further develop Quest, its newly acquired captive management business, which has of course been established in Bermuda for many years.

“Going forward, R&Q will be focusing on growing its legacy and nascent programme business. We plan further recruitment as we build our Bermudian-based legacy reinsurance, acquisition and management capability.

“We also view Bermuda as a key hub for our rapidly growing programme operations, with business being initiated by our fully licensed insurance carriers in Malta and Florida.”

R&Q did not disclose how many people it employs in Bermuda. In total, R&Q employs more than 300 staff in offices in Bermuda, the UK and North America, according to its website.

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

Published Jan 17, 2018 at 8:00 am (Updated Jan 16, 2018 at 7:45 pm)

R&Q sees sale as positive for Bermuda jobs

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

    • "Cup Match 2018 is in the record books. Who is your favourite for MVP?"
    • Onias Bascome (StG)
    • 46%
    • Chris Douglas (SCC)
    • 7%
    • Terryn Fray (SCC)
    • 15%
    • Stephen Outerbridge (SCC)
    • 9%
    • Dion Stovell (SCC
    • 23%
    • Total Votes: 1869
    • Poll Archive

    Today's Obituaries

    eMoo Posts