R&Q seals acquisition of NN Group's Nationale-Nederlanden
Insurance services and investment company Randall & Quilter Investment Holdings (R&Q) has completed the acquisition of the entire issued share capital of UK-based Nationale-Nederlanden Internationale Schadeverzekering (NNIS) from its owners NN Group.
NNIS, an insurance and asset management company, was transferred from the Netherlands to the UK in 2012. The residual liabilities comprise NNIS’s exposures arising in relation to the Dutch Aviation Pool for years 1996 and prior.
Following the deal, the company will be renamed to R&Q Epsilon Company. It will be managed by R&Q with the intention of moving the remaining insurance business to one of the group’s consolidation vehicles, subject to the usual regulatory and court approvals.
Ken Randall, chairman and chief executive officer of R&Q, said: “I am delighted that we have agreed the acquisition of NNIS and it follows other successful deals in the UK. The acquisition continues to demonstrate the ability of R&Q to provide exit solutions for companies in run-off and providing finality for the owners. We remain excited about our legacy acquisition pipeline.”
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