R&Q Insurance Regulatory News (RQIH)

Randall & Quilter Investment Holdings Ltd.

R&Q completes acquisition of captive insurance company from Fortune 500 engine manufacturer

22 March 2017

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the acquisition of ICDC, Ltd. ("ICDC" or the "Company"); a captive insurer of an American Fortune 500 company.

The Company, originally incorporated under the laws of Bermuda, was re-domiciled in Vermont effective June 30, 2015. The company reinsured workers' compensation, commercial general liability, business auto liability, business auto physical damage and property risks of the parent.

ICDC, which is in run-off, had a total net asset value of $7.95m as at 31 December 2016 with reserves estimated at circa $2.76m.

Ken Randall, Chairman and Chief Executive Officer of R&Q, commented "We are delighted to complete the acquisition of ICDC from an American Fortune 500 company. This transaction demonstrates our ongoing commitment to continue to acquire legacy insurance assets and also continues to expand our acquisition activity in the North America, Bermuda and the Caribbean region".

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About R&Q

Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.

R&Q is focused on the following three core areas:

• Insurance Investments

• Insurance Services

• Underwriting Management

The Group:

• provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;

• employs close to 400 insurance professionals based in the UK, US, Bermuda, and Europe with wide service capability in both the 'live' and 'run-off' markets;

• owns and manages a portfolio of insurance companies, both active and in run-off, in the UK, US and Europe with net assets of £123.7m as at 31 December 2015;

• owns an admitted P&C Insurer, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company which currently supports the Group's syndicate participations;

• launched Syndicate 1991, which commenced underwriting from January 1, 2013 and has an agreed capacity of £130m for 2016, manages one RITC ('run-off') syndicate, 3330, and owns and operates an MGA platform;

• acquires and manages a portfolio of insurance receivables, with a carrying cost of £6.0m as at 31 December 2015, of which R&Q holds a 50% interest

The Group was founded by Ken Randall and Alan Quilter in 1991.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com