Randall & Quilter Investment Holdings Ltd - Bermuda-headquartered non-life legacy insurance investor and capacity provider - Agrees to merge wholly owned subsidiary Sandell Re Ltd with Tradesman Program Managers LLC in return for a 35% interest in the combined entity. The transaction is subject to the approval of the Bermuda Monetary Authority. The initial book value of Randall & Quilter's interest in the combined business will be USD43.4 million. Tradesman is a New York-based managing general agent that underwrites construction-related liability insurance.
Current stock price: 153.00 pence
Year-to-date change: down 9.1%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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R&Q Insurance (RQIH)