Clydesdale Bank backs R&Q to expand insurance market presence
Randall & Quilter has completed a £30m funding package with Clydesdale Bank Corporate and Structured Finance.
R&Q has secured a five-year senior debt facility with Clydesdale Bank.
Ken Randall, UK chairman and chief executive of R&Q, said: “We are delighted to have completed the refinancing of our main group bank facility.
“Clydesdale Bank is not only helping to provide funding for existing debt commitments, but the new facilities will assist us greatly in executing future acquisition opportunities.
“We look forward to working with Clydesdale Bank and their specialist insurance team.”
Paul Hambrook, director, Clydesdale Bank Corporate and Structured Finance’s dedicated insurance team, said: “The R&Q Group is an acquisitive business that is regarded as a market leader in the UK and across the world. It is extremely pleasing for Clydesdale Bank to support R&Q’s future growth strategy.
“Clydesdale Bank continues to nurture its presence in the UK insurance sector, an area where we see continued growth and opportunities”
R&Q is a specialist global non-life insurance service provider with offices in the UK, US, Canada, Bermuda, Norway and Gibraltar.
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