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29 March, 2016
R&Q is pleased to announce it has acquired Rank Insurance Limited (“RIL”), a captive company now in run-off, from Rank Overseas Holdings Limited.
Regulatory approval for the acquisition has been granted and RIL will be amalgamated into Capstan Insurance Company Limited, R&Q’s consolidation vehicle in Guernsey, subject to necessary consents.
Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of R&Q, said: “We are delighted to have acquired RIL and this continues to demonstrate the ability of R&Q to provide exit solutions for end of life captive insurance companies. This is one of a number of current transactions we have been assessing and we remain excited about our legacy acquisition pipeline.”
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