Randall & Quilter Investment is engaged in generating profits and capital extractions from expert management of legacy non-life insurance acquisitions/reinsurances
Randall & Quilter acquires NBIC. (Credit: Randall & Quilter.)
Randall & Quilter Investment Holdings, through its wholly-owned Vermont-based subsidiary Indiana Cooperative Development Center (ICDC), has signed a stock purchase agreement to acquire Nations Builders Insurance Company (NBIC).
NBIC is a captive domicile for NationsBuilders Insurance Services (NBIS), and the transaction is subject to customary closing conditions and regulatory approval in Washington, DC and Vermont.
R&Q M&A group head at Paul Corver said: “Whilst this transaction remains subject to regulatory approval and normal closing conditions, our track record in executing captive acquisitions in the U.S., with our Vermont-based acquisition vehicle gives counterparties confidence in our ability to complete transactions in a timely manner.
“We have enjoyed working with NBIS and Piper Sandler to find a finality solution for NBIS’s captive operations.
“More broadly, we continue to see a growing number of opportunities with respect to captive insurers as captive owners seek full finality solutions to free trapped capital – a trend we expect to continue regardless of the continuing disruption caused by the Covid-19 lockdown.”
NBIC has been a reinsurer of the business underwritten by its parent company NBIS
NBIC has been a reinsurer of the business underwritten by its parent, NBIS on casualty exposures including worker’s compensation, general liability, auto liability and inland marine until 2019, and the sale of NBIC would provide full finality for NBIS.
Established in 1991, Randall & Quilter Investment is engaged in generating profits and capital extractions from expert management of legacy non-life insurance acquisitions/reinsurances, and grow commission income from its licensed carriers in the US and EU and the UK.
In addition, the firm is aimed at continuing growth in sustainable profit streams and support business model to increase book value and cash distributions for shareholders.