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UK-based Nationale-Nederlanden Internationale Schadeverzekering SE (NNIS) is no longer part of NN Group.
Randall & Quilter (R&Q) has completed the swoop for the entire issued share capital of NNIS for an undisclosed amount. The latter, which was transferred from the Netherlands in 2012, will be renamed to R&Q Epsilon Company SE.
“I am delighted that we have agreed the acquisition of NNIS and it follows other successful deals in the UK,” commented chairman and chief executive Ken Randall.
Meanwhile the plan is to subsequently move NNIS’s remaining insurance business to one of R&Q’s consolidation vehicles.
“The acquisition continues to demonstrate the ability of R&Q to provide exit solutions for companies in run-off and providing finality for the owners,” added the CEO. “We remain excited about our legacy acquisition pipeline.”
