Charles Taylor completes run-off acquisition

LONDON—Charles Taylor Consulting P.L.C. has completed its proposed acquisition of run-off insurer Westminster Motor Insurance Association Ltd. from Santam (U.K.) Ltd.

Charles Taylor Consulting, which manages The Standard Group of P&I Clubs, among others, already provides run-off administration services to Westminster Motor Insurance Association.

WMIAL previously wrote predominantly motor insurance for U.K. taxi drivers and is now closed to new business.

The acquisition was completed following regulatory approval from the Financial Services Authority. CTC paid Santam £1 ($1.48) in cash.