Markel to buy UK specialist insurer ECIC

Markel International is set to acquire UK-based specialist insurer for the contracting sector EC Insurance (ECIC).

ECIC, whose parent is the Electrical Contractors’ Association (ECA), provides a range of insurance products for contractors and affinity groups across the UK building services sector.

According to the statement, the contracts for the sale have been signed, following approval by the Council, ECA’s decision making body.

The deal is subject to approvals from the Financial Conduct Authority and the Prudential Regulation Authority. The transacton is expected to complete in the final quarter of 2017.

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