Randall and Quilter Investment Holdings (R&Q) has completed the acquisition of Western Captive Insurance Company (WCIC) from its owners, the Coffey Group, after receiving Irish regulatory approval.
After initially agreeing a deal in October 2018, R&Q received regulatory approval from the Central Bank of Ireland to complete the acquisition of the entire issued share capital of WCIC on 1 April.
From 2007 to 2011, WCIC underwrote general and employers’ liability insurance covering various members of the Coffey Group.
Following the acquisition, R&Q intends to transfer the business to its Maltese rated company, Accredited Insurance (Europe), subject to regulatory and Irish court approval, after which WCIC will close.
Ken Randall, R&Q chairman and CEO, commented: “We are pleased to have completed the acquisition of WCIC.”
“This transaction again demonstrates the wide range of legacy solutions that R&Q is able to deliver.”
