Randall & Quilter acquires IC Insurance
Randall & Quilter Investment Holdings (R&Q) has announced it has completed its acquisition of captive insurance firm IC Insurance, after receiving PRA approval.
Finalisation of the deal comes after R&Q announced its intention to acquire the firm on 26 May, 2015.
Ken Randall, chairman and chief executive officer of R&Q, commented when the deal was first announced: “We are delighted to have entered into an agreement to acquire IC Insurance from AstraZeneca UK and Imperial Chemicals Industries.
IC Insurance, which has been in run-off since 1996, was formed in 1926 as the UK registered captive insurer for Imperial Chemical Industries (ICI).