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Randall & Quilter completes acquisition of legacy captive

Posted On: Sep. 29, 2015 12:00 AM CST

Bermuda-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.

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