“The transaction is expected to close shortly.”

That was the statement made by Randall & Quilter (R&Q) after finally receiving regulatory approval for its swoop for GLOBAL U.S. Holdings Incorporated. Insurance Business first reported on the acquisition in the third quarter of 2018.

With this hurdle passed, the Bermuda-based group’s wholly owned subsidiary Randall & Quilter America Holdings Inc. can now complete the $80.5 million purchase of the Global Re US parent. The clearance comes seven months after the legacy transaction was announced.

Part of R&Q’s mission is to generate profits and capital extractions from expert management of legacy non-life insurance acquisitions or reinsurances.