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30 December, 2016
On 09 September 2016, R&Q announced the acquisition of RLGI subject to regulatory approval. R&Q is now pleased to announce that regulatory approval has been received and the transaction completed on 29 December 2016.
The Company will be managed by R&Q with the intention of undertaking a Part VII Transfer of the remaining insurance business to one of the Group’s consolidation vehicles in due course, subject to the usual regulatory and Court approvals.
Commenting on today’s announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said:
“We are pleased to have completed this transaction with The Royal London Group which removes its non-life run-off business. It continues to demonstrate the ability of R&Q to provide exit solutions for companies or portfolios in run-off and further demonstrates the attractions of R&Q’s offerings to major insurance organisations.”
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