Randall & & & & Quilter II Holdings Limited, a totally owned subsidiary of Randall & & & & Quilter Investment Holdings Ltd., has in fact ended up the acquisition of Marillac Insurance Company (Marillac), the Cayman servant insurance company of Verity Health System of California.
The offer, which has actually gotten individual insolvency court and all regulative approvals, is the 2nd Cayman hostage acquisition finished by R&Q this year. Marillac, which is now in run-off, had really previously used employees settlement, basic and expert liability defense to its mother and fathers, staff members and affiliates.
R&Q will pay $2.3 m to get 100% of the equity in Marillac, in addition to other non-cash aspect to consider.
Ken Randall, Executive Chairman at R&Q, specified: “We are incredibly happy to have actually concurred terms to get Marillac Insurance Company. This acquisition represents our 2nd Cayman Islands captive acquisition in 2020. This offer reveals the continuous requirement for complete finality options to captive insurance owners and R&Q’s ability to provide certainty of closure to our counterparties.”
This acquisition follows Randal & & & & Quilter II reached an arrangement to get the entire issued share capital of the Vibe Group.