Further to an announcement on 5 June 2020, AIM-listed Randall & Quilter Investment Holdings (R&Q) has announced its wholly owned Vermont subsidiary, ICDC, has completed the acquisition of NationsBuilders Insurance Company (NBIC), a Washington D.C. domiciled captive from NationsBuiders Insurance Services.

Randall & Quilter is headquartered and operates in Bermuda with extensive operations in the US and Europe. It provides finality solutions for run-off portfolios and global program capacity for MGAs and their reinsurers.

Paul Corver, Group Head of M&A at R&Q, commented: "We are pleased to have completed the acquisition of NBIC. This marks our third captive legacy acquisition in 2020. R&Q is well positioned to take on books of business of all sizes and we expect to announce further legacy transactions before the end of the year."

With a market capitalization of UK£331m, R&Q is a small cap stock, so it might not be well known by many institutional investors. However Institutional investors own over 50 percent of the company, so together than can probably strongly influence board decisions. Randall & Quilter Investment Holdings is not owned by hedge funds.

The company's largest shareholder is Phoenix Asset Management Partners, with ownership of 18 percent. Premier Fund Managers is the second largest shareholder owning 9.4 percent of common stock, and Brickell Insurance Holdings holds about 8.9 percent of the company stock.