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R&Q Insurance Holdings Ltd - Hamilton, Bermuda-based non-life specialty insurance company - Completes the sale of its 40% minority holding in New York-based Managing General Agent TPM Holdings USA LLC, known as Tradesman.
R&Q announced the sale of Tradesman for $47 million in February. It is sold to Roosevelt Road Capital Partners LLC, the controlling 60% shareholder of Tradesman, which is majority owned by Daniel Hickey, the chief executive of Tradesman.
Current stock price: 75.39 pence, down 3.8% on Friday midday in London
12-month change: down 49%
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