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."
Join us at Intelligent InsurTECH Europe 2017 - Use code "Save20" to save 20% on selected tickets until July 15th
Today’s stories
New Lloyd’s coverholder targeting cyber, financial lines launched in Singapore
Up to 40% of some insurers’ revenues at risk from insurtech
MGA Association outlines new strategic goals including Brexit advice
A lack of claims allows Flood Re to build reserves
Willis Towers Watson appoints Asia life practice leader
Audit review service launched to tackle new UK data regulations GDPR
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
