European P&C insurance run-off group Marco Capital Holdings Limited has completed its acquisition of Inceptum Insurance Company Limited, a UK non-life insurance company in run-off, from Randall & Quilter II Holdings Ltd.
The acquisition was initially announced earlier this year, with reports stating that R&Q would receive £11.25 million from the deal.
Back then, it was revealed that the agreement represents the sale of 100% of the shares of Inceptum to Marco, alongside the novation of any related reinsurance arrangements with other R&Q entities.
As per Marco Capital, the transaction has received all required regulatory approvals and has now closed.
Simon Minshall, Marco CEO, commented, “The acquisition of Inceptum, a company itself in run-off, by Marco brings financial and operational stability to a complex and challenging situation for the benefit of all stakeholders.
“Executing a deal in such a complex situation is an example where Marco’s technical skills, experience, track record, and outstanding reputation are essential.”
