USSICUnited States Sports Insurance Company, Inc.
USSICUnited States Specialty Insurance Company (Addison, TX)
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Terms were not disclosed, but the company said that the directors of USSIC will be appointed from Randall & Quilter's existing staff in the United States and Bermuda.
To acquire USSIC, the total consideration paid by R/Q was USD 2.1m financed by a draw down on the group's revolving credit facility with the Royal Bank of Scotland.
The directors of USSIC will be appointed from R/Q's existing staff in the US and Bermuda and there are no separate service contracts or associated remuneration.