• Strategy
  • Innovation
  • Expertise

Acquisition of Western Captive Insurance Company Designated Activity Company

2 October, 2018

Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce it has entered into an agreement to acquire Western Captive Insurance Company Designated Activity Company (“WCIC”) from the Coffey Group of companies in Ireland, their Irish domiciled captive insurance company. The acquisition is subject to receiving regulatory approval from the Central Bank of Ireland.

WCIC underwrote general and employers’ liability insurance from 2007 to 2011 covering various members of the Coffey Group. R&Q intends to transfer the business to its Maltese rated company, Accredited Insurance (Europe) Limited, subject to regulatory and Irish court approval.

Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of R&Q, said: “I am delighted that we have agreed the acquisition of WCIC, subject to regulatory approval, and it follows other successful deals in Ireland. A continued soft market, pressures on capital from Solvency II and forthcoming challenges from Brexit and base erosion and profit shifting are providing increasing opportunities for R&Q to provide either complete finality or partial relief through removal of defined portfolios. We are also especially pleased to transact with an Irish domiciled company where we are aware of further opportunities. The acquisition continues to demonstrate the ability of R&Q to provide exit solutions for end of life captive insurance companies. We remain excited about our legacy acquisition pipeline.”

Click here for the full press release.

Acquisition of Western Captive Insurance Company Designated Activity Company

Latest News

Appointment of Chief Financial Officer
Appointment of Chief Financial Officer

The Board of Directors of Randall & Quilter Investment Holdings Ltd., the non-life global specialty insurance company focusing on the Program Management and Legacy Insurance businesses, today announces the appointment of Thomas (Tom) Solomon as Group Chief Financial Officer (CFO). …

Board Appointment
Board Appointment

Randall & Quilter Investment Holdings Ltd., the non-life legacy insurance investor and capacity provider of US and European MGA program business, is pleased to announce the appointment of Eamonn Flanagan to the Board as an independent non-executive director of the …

Notice of General Meeting and Posting of Circular
Notice of General Meeting and Posting of Circular

On 29 April 2020, R&Q, the Bermuda based global program underwriting management and legacy acquisitions specialist, announced US$100 million of new equity investment into the Group. Further to that previous announcement, the Company is pleased to confirm that a circular …