Informa Insurance News 24
R&Q ACQUIRES NATIONSBUILDERS CAPTIVE
Randall & Quilter Investment Holdings has entered into a stock purchase agreement to acquire NationsBuilders Insurance Company (NBIC), the US domiciled captive insurer for NationsBuilders Insurance Services (NBIS). The transaction comes just a day after R&Q closed a loss portfolio transfer deal with Houston International Insurance, with further transactions in the pipeline. Until it went into runoff in 2019, NBIC reinsured the business underwritten by NBIS on casualty exposures including worker's compensation, general liability, auto liability and inland marine. “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,” said Paul Corver, group head of M&A at R&Q.