R&Q completes acquisition of AstraZeneca Insurance

Randall & Quilter (R&Q) has completed the acquisition of AstraZeneca Insurance Company (AZICO) after receiving all the necessary approvals.

Following the transaction, AZICO will be managed by the specialist non-life insurer R&Q, which further intends to undertake a Part VII transfer of the remaining insurance business to one of its consolidation vehicles.

"We are pleased to have completed this transaction with AstraZeneca UK Limited," said Ken Randall, chairman and chief executive officer of Randall & Quilter.

"This is the second transaction that we have concluded with AstraZeneca to assist them exiting their captive insurance companies in run-off and further demonstrates the attractions of the Group’s offerings to major corporations."

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