Randall & & Quilter II Holdings Limited, a completely owned subsidiary of Randall & & Quilter Investment Holdings Ltd., has actually finished the acquisition of Marillac Insurance Company (Marillac), the Cayman slave insurance provider of Verity Health System of California.
The deal, which has actually gotten personal bankruptcy 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 actually formerly offered employees settlement, basic and expert liability protection to its moms and dad, 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 factor to consider.
Ken Randall, Executive Chairman at R&Q, stated: “We are incredibly delighted to have actually concurred terms to get Marillac Insurance Company. This acquisition represents our 2nd Cayman Islands captive acquisition in 2020. This deal shows the ongoing need for complete finality options to captive insurance owners and R&Q’s capability to supply certainty of closure to our counterparties.”
This acquisition follows Randal & & Quilter II reached an arrangement to obtain the whole issued share capital of the Vibe Group.