Randall & Quilter has snapped up another legacy firm – swooping for a company that has been in run-off since September 2009.
Subsidiary Randall & Quilter Holdings II has reached an agreement to acquire the share capital of Inceptum Insurance Company Limited, which was incorporated in England & Wales back in 1998. It was ultimately sold by the HSBC group to Syndicate Holding Corp in September 2011.
Paul Corver, group head of M&A at Randall & Quilter, said he was delighted to have reached the agreement, which remains subject to regulatory approval.
“R&Q takes pride in providing finality for owners and we are pleased to see clear evidence of increased demand for legacy solutions throughout 2020,” he said. “While logistically it has taken longer to complete deals due to COVID-19, we are pleased to report that we have a healthy pipeline of opportunities and a number of further transactions which are nearing completion. We therefore look forward to announcing further legacy transactions over the course of the next few weeks.”
