Randall & Quilter To Redomicile In Bermuda
Randall & Quilter Investment Holdings plc, an Alternative Investment Market-listed UK company which specialises in investment services within the non-life insurance markets in Europe, North America and Bermuda, is planning to redomicile its holding company here.
Industry journal Post Online reported the move will see the introduction of a Bermuda-incorporated but UK tax resident company as parent of the group, with all existing R&Q shares exchanged for Randall & Quilter Investment Holdings stock.
“The plans have been given unanimous approval by the run-off firm’s board of directors, which believes that the move will allow R&Q to benefit from an improved regulatory environment, with certainty on long-term capital requirements cited as a particular concern in light of ongoing Solvency II delays,” said “Post Online.”
Access to the US is also cited as a factor by the insurer, with the insurance-linked securities market of particular interest. R&Q plans to complete the redomiciling process, which is still subject to regulatory approval, by early July.
