New York, NY – BMS Capital Advisory (“BMS CA”) today announced it acted as sole investment banker to Coverys in its intended acquisition of R&Q Managing Agency Limited (“RQMA”), a fully authorized Lloyd’s third party managing agency. RQMA is part of Randall & Quilter Investment Holdings (R&Q), a non-life insurance investor, underwriting manager, captive manager and service provider.
The acquisition is subject to regulatory approval by Lloyd’s and the Prudential Regulation Authority.
Gregg Hanson, CEO and president of Coverys, said: “This acquisition shows our determination to further strengthen our client offerings, and we are delighted to have achieved this milestone with help of expert advice from our partners at BMS CA.”
Romulo Braga, CEO of BMS CA, said: “This transaction highlights the continued attractiveness of Lloyd’s to capital investors. Assisting Coverys in establishing its London market presence is a high-profile achievement for our advisory business, and we are therefore very pleased to be able to demonstrate our firm’s ability to deliver cross-border, integrated advice and institutional knowledge. ”