R&Q closes largest legacy acquisition deal with AXA; CEO Randall says '2019 pipeline is strong'
Insurance services and investment company Randall & Quilter Investment Holdings (R&Q) has completed the acquisition of Global US Holdings from an investment vehicle managed by AXA Liabilities Managers (AXA LM).
The transaction valued at approximately $80.5 million and represents the largest legacy deal R&Q has made to date.
Global US is the parent of Global Reinsurance Corporation of America (Global Re US), a New York domiciled insurance company in run-off that underwrote predominantly property and casualty pro-rata treaties and facultative business for regional and specialty insurance companies on non-standard automobile, multi-peril and general liability lines in the US.
In August 2002, it went into run-off and was acquired by an investment vehicle managed by AXA LM in June 2014.
Ken Randall, chairman and chief executive officer of R&Q, said: “We are delighted to have completed the acquisition of Global US. This is the largest acquisition that R&Q has made to date and demonstrates our ability to provide exit solutions and our continuing penetration into larger deal activity.
"R&Q is well positioned to take on books of business of this size in the future and our 2019 pipeline is strong.”
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