M&A Deal Summary

R&Q Acquires ICDC

On March 22, 2017, R&Q acquired insurance company ICDC from Cummins

Acquisition Highlights
  • This is R&Q’s 18th transaction in the Insurance sector.
  • This is R&Q’s 2nd transaction in Bermuda.

M&A Deal Summary
Date 2017-03-22
Target ICDC
Sector Insurance
Buyer(s) R&Q
Sellers(s) Cummins
Deal Type Add-on Acquisition

Target

ICDC

Bermuda
ICDC is a captive insurer that provides workers compensation, commercial general liability, business auto liability, business auto physical damage, and property risks services.

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Buyer(S) 1

Buyer

R&Q

Hamilton, Bermuda
Category Company
Founded 1991
Sector Insurance
Employees330
Revenue 81M GBP (2022)
DESCRIPTION

R&Q is a service provider and acquirer of solvent insurance companies in run-off. R&Q was founded in 1991 and is based in Hamilton, Bermuda.

DEAL STATS #
Overall 18 of 26
Sector (Insurance) 18 of 26
Type (Add-on Acquisition) 11 of 15
Country (Bermuda) 2 of 3
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-05 Clariant Insurance AG

Triesen, Liechtenstein

Clariant Insurance AG primarily underwrote the high layer excess products and general liability protections for the Clariant worldwide group.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-15 RQIH - Insurance Services Assets

Hamilton, Bermuda

RQIH Ltd. - Insurance Services Assets comprises JMD and Requiem in the UK, Quest in Bermuda, and John Heath and AMA in North America.

Sell -

Seller(S) 1

SELLER

Cummins

Columbus, Indiana, United States
Category Company
Founded 1919
Sector Machinery
Employees75,500
Revenue 34.1B USD (2023)
DESCRIPTION

Cummins designs, manufactures, distributes and services engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Cummins was incorporated in 1919 and is based in Columbus, Indiana.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Bermuda) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-18 SCR Doser Assets

Marktheidenfeld, Germany

SCR dosing is a catalytic reduction dosing system developed by Hilite International.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-16 Brammo

Talent, Oregon, United States

Brammo, Inc. is an electric vehicle technology company designs and develops electric vehicles including the award winning Enertia and Empulse motorcycles. Brammo is an OEM supplier of its innovative Brammo Digital Drivetrain systems including the Brammo Power battery pack and Brammo Power vehicle management system. Brammo has vehicle distribution and marketing operations in North America, South America, Europe, and Asia.

Buy -
Mergr

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