R&Q acquires captive insurer NFIL

Randall & Quilter has acquired the entire issued share capital of NFIL, a Guernsey domiciled captive insurer.

NFIL has been in run-off since 2007 and wrote employer’s liability, property and motor third party risks.

“The acquisition of NFIL is further proof of the heightened acquisition activity we are seeing as a group,” said Ken Randall, chairman and chief executive officer of Randall & Quilter.

“It also demonstrates our ability to provide attractive exit solutions for captive owners who have put their captives in run-off or are contemplating ceasing writing new business. Following this acquisition, we have two owned captives in run-off in Guernsey and will therefore seek to optimise operational and capital efficiency, subject to regulatory approval.”