• Strategy
  • Innovation
  • Expertise

Acquisition of Woodcroft Insurance Company Limited

29 August, 2013

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ ) is pleased to announce that it has completed the acquisition of the entire issued share capital of Woodcroft Insurance Company Limited (“Woodcroft”), a Guernsey domiciled captive insurer.

Woodcroft was the captive insurer for John Laing plc and has been in run-off since 2012. It wrote employer’s liability, public liability and construction all risks until 2002 and wrote professional indemnity for the group in more recent years. Total claims reserves at 30 June 2013, the date of the latest available management accounts, amounted to £1.6m and the company carried a net asset value of £1.2m.  Open claims relate primarily to latent disease arising from employers liability coverage.

Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said:

“The acquisition of Woodcroft continues to evidence the desire amongst captive owners to achieve closure where the captive is no longer underwriting yet faces a lengthy run-off from long tail liabilities.  We are pleased to have provided this exit to John Laing plc and are talking to a number of other corporates wishing to sell their captive or simply dispose of unwanted years to streamline their captive operation.”

Click to download the full press release

Acquisition of Woodcroft Insurance Company Limited

Latest News

Directors’ Shareholding/Total Voting Rights
Directors’ Shareholding/Total Voting Rights

The Company has been notified that on 11 July 2019 Alan Quilter, Joint Chief Executive Officer and Chief Financial Officer of the Company, sold 400,000 of his holding of ordinary shares in the Company. Mr Quilter continues to hold 2,992,088 …

Loss Portfolio Transfer
Loss Portfolio Transfer

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Accredited Surety & Casualty Company Inc (‘ASCC’), has signed a loss portfolio transfer agreement with Northern California Regional Liability Excess Fund …

Acquisition Announcement
Acquisition Announcement

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement to acquire, subject to regulatory approval from the Bermuda Monetary Authority …