Randall & Quilter Investment Holdings (R&Q) has acquired the entire issued share capital of ICI Insurance Company Limited (ICIICL) from Imperial Chemical Industries.
ICIICL was formed in the Cayman Islands in 2003 and licensed as a Class B (i) insurer.
R&Q noted that the residual liabilities of ICIICL comprised primarily of US workers’ compensation and general liability claims.
Paul Corver, R&Q group head of mergers and acquisitions, commented: “We are delighted to have agreed [on] terms to acquire ICIICL. 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”, he added.
