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Disposal Announcement

29 February, 2016

Randall & Quilter is pleased to announce the completion of the sale to Plum Underwriting Ltd. of the business of Synergy Insurance Services (UK) Limited (‘Synergy’), a specialist Managing General Agent (MGA) providing a range of bespoke, specialist personal high net worth products for an undisclosed upfront cash consideration. The consideration is higher than the carried value of Synergy in the Group’s latest published accounts.

The sale of Synergy is part of the targeted disposal strategy first referred to at the end of 2014, which will enable the Group to focus on its core strengths.

Following a full evaluation process, the Board has determined that the growth potential of the business is greater for a larger scale underwriting agency such as Plum with its strong existing focus on the UK and ROI home insurance market. This has been reflected in an offer for the business which the Board believes delivers the best value for shareholders.

Click here for the full Press Release

Disposal Announcement

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