8th Jan 2019 13:39
LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd said Tuesday its European unit has completed the acquisition of MPS Risk Solutions Ltd.
Accredited Insurance (Europe) Ltd acquired MPS Risk Solutions from The Medical Protection Society Ltd in September but the purchase was completed Tuesday following regulatory approval.
MPS Risk Solutions was formed in 2004 as a UK authorised insurer. It stopped active underwriting in 2012.
"We are delighted to have completed the acquisition of MPSRS. Randall & Quilter takes pride in assisting companies to dispose of companies in run-off and providing finality for the owners," said Chairman and Chief Executive Ken Randall.
Randall & Quilter acquired MPS Risk for GBP16.0 million, a "small discount" to MPS' net assets of GBP17.8 million.
Shares in Randall & Quilter were up 0.6% Tuesday at 168.00 pence each.
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