• Strategy
  • Innovation
  • Expertise

Acquisition of Constantia Insurance Company

2 January, 2018

R&Q is pleased to announce it has acquired Constantia Insurance Company (Guernsey) Limited (“Constantia”), a captive company now in run-off, from Old Mutual plc (“OM”).

Regulatory approval for the acquisition has been granted and Constantia will be amalgamated into Capstan Insurance Company Limited, R&Q’s consolidation vehicle in Guernsey, subject to necessary consents.

Constantia wrote professional indemnity & crime programme insurance from 2003 to 30 April 2017 to various OM Group companies.

The agreed purchase price is £1.5m and represents a small discount to Constantia’s pro-forma net assets of £3.4m.  The transaction will be settled in cash and financed from the Group’s existing resources.  In the year ended 31 December 2016 Constantia reported a loss before tax of £2.4m.

Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of R&Q, said: “We are delighted to have acquired Constantia and this continues to demonstrate the ability of R&Q to provide exit solutions for end of life captive insurance companies.  This continues our excellent track record of acquiring captive insurance companies and we remain excited about our legacy acquisition pipeline.”

Click here for the full Press Release

Acquisition of Constantia Insurance Company

Latest News

Appointment of Broker
Appointment of Broker

Randall & Quilter Investment Holdings Ltd. (“Randall & Quilter”) today announces the appointment of Barclays Bank PLC (“Barclays”) as its joint corporate broker with immediate effect. Barclays will work alongside Randall & Quilter’s existing corporate broker and nominated adviser, Numis …

Director/PDMR Shareholding
Director/PDMR Shareholding

The Company has been notified that on 6 January 2021 Alan Quilter, the Chief Executive Officer of the Company, sold his interest in 400,000 ordinary shares in the Company. Mr Quilter continues to hold 2,078,091 ordinary shares which represents 0.93% …

Regulatory Approval of UK Legacy Acquisitions
Regulatory Approval of UK Legacy Acquisitions

Further to its announcements on 19 August 2020 and 21 August 2020, Randall & Quilter Investment Holdings Ltd. (“R&Q”), is pleased to announce that its wholly owned UK subsidiary, Randall & Quilter II Holdings Limited, has received regulatory approval and …