Randall & Quilter completes acquisition of legacy captive
Posted On: Sep. 29, 2015 12:00 AM CSTBermuda-based Randall & Quilter Investment Holdings Ltd., a nonlife run-off insurance specialist, has completed the acquisition of IC Insurance from its U.K.-based indirect owners AstraZeneca U.K. Ltd. and Imperial Chemical Industries Ltd., reported London South East.
Randall & Quilter acquired IC Insurance for £17 million ($25.8 million).
"This is one of a number of current transactions we are assessing where a corporate parent is looking to dispose of their legacy captive prior to the implementation of Solvency II," said Randall & Quilter spokesman.