Randall & Quilter Investment Holdings Ltd. (R&Q) has received regulatory approval to complete the acquisition of Irish insurer Western Captive Insurance Company DAC (WCIC).
The Central Bank of Ireland granted approval for R&Q to acquire the entire issued share capital of WCIC from its owners, the Coffey Group.
R&Q intends to transfer WCIC’s business to its Maltese rated company, Accredited Insurance (Europe) Limited.
WCIC will close following the transfer of business, which remains subject to regulatory and Irish court approval.
R&Q first announced its plans to pursue the acquisition of WCIC in October 2018.
“We are pleased to have completed the acquisition of WCIC,” said Ken Randall, Chairman and Chief Executive Officer (CEO) of R&Q.
“This transaction again demonstrates the wide range of legacy solutions that R&Q is able to deliver,” he continued.