12th Jun 2023 14:04
R&Q Insurance Holdings Ltd - Hamilton, Bermuda-based non-life specialty insurance - Raises up USD60 million in new equity from funds affiliated with largest shareholder Scopia Capital Management, as separates program management business from legacy insurance business. The Scopia funds invest USD50 million in non-voting, perpetual preferred equity issued by Randall & Quilter PS Holdings Inc, an indirect wholly-owned subsidiary of R&Q. This amount can be raised to USD60 million. The preferred shares can exchanged for ordinary shares of R&Q Insurance at 60.98 pence per share. Read More