20th Nov 2015 08:30
LONDON (Alliance News) - Non-life insurance investor, service provider and underwriting manager Randall & Quilter Investment Holdings Ltd on Friday said it has signed a deal to acquire FNF Title Insurance Co Ltd for an undisclosed amount.
FNF Title is a Malta-based subsidiary of US-based Fidelity National Title Group, itself a unit of financial services giant Fidelity National Financial Inc.
FNF Title provides protection to policyholders for breach of covenants in property transactions, for chancel repair insurance and for rights of way and rights of light.
"This transaction continues to demonstrate our ability to attract and execute deals across Europe and further build our consolidation vehicle in Malta. This is one of a number of European transactions where the main driver appears to be exit ahead of Solvency II. This new risk based capital regime continues to provide opportunities for us across the EU," said Ken Randall, Randall & Quilter's chief executive and chairman.
Randall & Quilter shares were untraded on Friday morning, having last traded at 95.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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