Randall & Quilter acquires ICI Insurance Company Limited | CustomNews.pk

Randall & Quilter acquires ICI Insurance Company Limited

LONDON: Randall & Quilter Investment Holdings Ltd. announced that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement with Imperial Chemical Industries Limited to acquire the entire issued share capital of ICI Insurance Company Limited (ICIICL). ICIICL was incorporated in the Cayman Islands in 2003 and licensed as a Class B (i) Insurer. The residual liabilities of ICIICL comprise primarily of US Workers Compensation and General Liability claims. Paul Corver, R&Q Group Head of M&A, commented: "We are delighted to have agreed terms to acquire ICIICL. 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."    
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