Randall & Quilter Investment Holdings has announced the completion of its acquisition of AstraZeneca Insurance Company, AZICO after receiving all necessary approvals from regulators.
The global non-life insurer and legacy or run-off reinsurance solutions specialist intends to undertake a Part VII Transfer of AZICO’s remaining insurance business to one of the Randall & Quilter Group’s consolidation vehicles, subject to approval.
Commenting on the acquisition, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said; “We are pleased to have completed this transaction with AstraZeneca UK Limited.
“This is the second transaction that we have concluded with AstraZeneca to assist them exiting their captive insurance companies in run-off and further demonstrates the attractions of the Group’s offerings to major corporations.”
