29th Mar 2016 07:32
LONDON (Alliance News) - Non-life insurance investor, service provider and underwriting manager Randall & Quilter Investment Holdings Ltd on Tuesday said it has acquired Rank Insurance Ltd for an undisclosed amount.
Randall & Quilter has acquired Rank, a captive company now in run-off, from Rank Overseas Holdings Ltd. Rank will be amalgamated into Randall & Quilter's Capstan Insurance Co Ltd consolidation vehicle in Guernsey.
"We are delighted to have acquired RIL, and this continues to demonstrate the ability of R&Q to provide exit solutions for end of life captive insurance companies," said Ken Randall, Randall & Quilter's chairman and chief executive.
"This is one of a number of current transactions we have been assessing, and we remain excited about our legacy acquisition pipeline," he added.
Shares in Randall & Quilter were untraded on Tuesday morning, having last traded at 90.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
RQIH.L