LONDON: Randall & Quilter Inv Hldgs Ltd (R&Q) has acquired the Montana captive insurer, Vigneron Insurance Company, Inc. (VICI), from a wholly owned private investment holding company with diverse holdings in a variety of industries, real estate, marketable securities and other investments.
VICI underwrote deductible reimbursement policies to cover the obligations under insurance policies taken out by affiliated entities.
R&Q intends to merge VICI into R&Q’s Vermont captive consolidator insurer, ICDC Ltd., in Q1 2020, subject to regulatory approval.
Ken Randell, Executive Chairman of R&Q, explained: “We are pleased to have completed the acquisition of VICI, our first transaction in Montana, and provided VICI’s parent company with legal and economic finality for its captive.
Our legacy pipeline remains strong across the Group and we look forward to closing more transactions in the coming weeks.”