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02 April 2019
Ireland
Reporter Ned Holmes

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R&Q completes acquisition of Irish-based captive WCIC

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.”

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