Brickell PC Insurance to acquire Randall & Quilter for £482 million as well as $100 million of new equity funding
April 2022
Brickell Insurance Group invests in and manages property casualty carriers and life and annuity carriers. The property casualty portfolio consists of Sutton National, Sutton Specialty and a minority interest in Randall & Quilter (Bermuda). The life and annuity portfolio consists of 777 Re Ltd. (Bermuda) and Merit Life.
R&Q is a profitable and progressive dividend paying non-life insurance group. The Group was established in 1991, initially as Randall & Quilter Investment Holdings plc and subsequently as Randall & Quilter Investment Holdings Ltd., domiciled in Bermuda and with an AIM listing since 2007.
On 1 April 2022, Brickell and R&Q announced that they had agreed the terms of a recommended cash acquisition of the entire issued ordinary share capital of R&Q by Brickell as well as $100 million of new equity funding. As outlined in that announcement, the Acquisition will be effected by means of a merger under the Bermuda Companies Act.
Publication and posting of Circular
The Perivan Shareholder communications team was delighted to produce the 112-page Circular which contained, amongst other things, a letter from the Chair of R&Q, the terms of the Acquisition, a notice of Special General Meeting, an indicative timetable of principal events and action to be taken by R&Q Shareholders which was successfully produced, published and posted to qualifying shareholders on 27th April.
Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.
