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"R&Q is delighted to agree on terms to acquire GLOBAL U.S. Holdings Inc.," Ken Randall, chairman and CEO of R&Q, said in a statement. “R&Q is delighted to agree [on] terms to acquire GLOBAL U.S. Holdings Inc.,” Ken Randall, chairman and CEO of R&Q, said in a statement. (Photo: Shutterstock)
The insurance industry continues its merger and acquisition activity with the latest deal announced today. Randall & Quilter (R&Q) Investment Holdings Ltd. has signed a definitive agreement to acquire GLOBAL U.S. Holdings Inc. from AXA DBIO (SCA), a subsidiary of investment funds managed by AXA Liabilities Managers SAS. GLOBAL U.S. Holdings Inc. is the 100% parent of GLOBAL Reinsurance Corporation of America (collectively, “Global Re US”). R&Q, a specialist in managing U.S. asbestos, pollution and health hazard exposures, will acquire Global Re US for approximately $80.5 million in cash at closing from R&Q’s cash at hand and debt facilities, as well as manage it.

The acquisition is subjected to regulatory approval from the New York Department of Financial Services.

Denny Jacob

Denny Jacob is a staff reporter for PropertyCasualty360.com. Contact him at djacob@alm.com.

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