R&Q to acquire ICI captive
Randall & Quilter II Holdings, a subsidiary of Randall & Quilter Investment Holdings, will acquire the entire issued share capital of ICI Insurance Company (ICIICL) from Imperial Chemical Industries.
ICIICL was incorporated in the Cayman Islands in 2003. Its residual liabilities comprise primarily of US workers’ compensation and general liability claims.
Paul Corver, R&Q group head of M&A, said: “This is another acquisition for R&Q that demonstrates the ability to assist companies in finalising legacy long tail exposures. R&Q takes pride in providing finality for captive owners either through outright acquisition or partial structured solutions such as reinsurance or novation.”