Bermuda Reinsurer Buys Rival In $25M Cash Deal
Law360, London (July 1, 2019, 6:01 PM BST) -- Bermuda-based reinsurer Randall & Quilter Investment Holdings Ltd. inked a $25 million deal for a competitor on Monday as it continues snapping up companies throughout the U.K., U.S. and Europe.
The all-cash deal for Sandell Holdings Ltd. — which operates as its subsidiary, Bermuda-based Sandell Re Ltd. — could rise if "certain conditions" are met, Randall & Quilter executive chairman Ken Randall said Monday.
The deal won't be finalized until the Bermuda Monetary Authority signs off on it, but if approved it would be Randall & Quilter's seventh transaction this year. Its last deal, an undisclosed sum for Global U.S. Holdings Inc., was...
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