R&Q Completes Acquisition Of Linco Limited
Randall & Quilter American Holdings Inc. [R&Q] announced the signing of the sale and purchase agreement to acquire Linco Limited; a wholly owned captive insurer of Ameripride Services Inc. and Alsco Inc. The transaction is subject to regulatory approvals, anticipated within 30 days.
The Company is domiciled in Bermuda and provided reinsurance coverage to its shareholders for worker’s compensation, general and automotive liability. Effective January 1, 1985 the company went into runoff.
Ken Randall, Chairman and Chief Executive Officer of R&Q, commented, “We are delighted to announce the acquisition of Linco, subject to regulatory approvals.
“This transaction continues to demonstrate our market leading position, providing captive legacy solutions across Bermuda, North America and Europe. This is further proof of our rapidly growing success in the run-off market.”
