Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement to acquire, subject to regulatory approval, the entire issued share capital of Vibe Services Management Limited (‘Vibe Services’), Vibe Corporate Member Limited (‘VCML’) and Vibe Syndicate Management Limited (‘VSML’) (‘the Vibe Group’). The Vibe Group was incorporated in England & Wales in 2006 and is ultimately owned by Syndicate Holding Corp in Puerto Rico.
The Vibe Syndicate 5678 was placed into run-off in December 2019.
VCML is the sole member of the Vibe Syndicate 5678 and in acquiring VCML, Vibe Services and VSML, R&Q will assume responsibility for the run-off of Syndicate 5678, which carried net insurance liabilities of £251.1 million as at 30 June 2020.
