Non-life insurance, reinsurance legacy and run-off acquisition specialist Randall & Quilter Investment is set to acquire the entire issued share capital of ICI Insurance Company.
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.
“We are delighted to have agreed terms to acquire ICIICL,” said Paul Corver, R&Q Group Head of M&A.
“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.”
