Randall and Quilter Investment Holdings (R&Q) has announced that its wholly owned subsidiary, Randall and Quilter II Holdings Limited, has acquired Inceptum Insurance Company Limited.
Inceptum was placed into run-off in September 2009 and sold by the HSBC group to Syndicate Holding Corp. on 30 September 2011.
The company was originally incorporated in England and Wales in 1998 and is part of the Vibe Group of companies.
Paul Corver, group head of M&A at R&Q, said: “We are delighted to have agreed terms to acquire Inceptum. R&Q takes pride in providing finality for owners and we are pleased to see clear evidence of increased demand for legacy solutions throughout 2020.
“While logistically it has taken longer to complete deals due to Covid-19, we are pleased to report that we have a healthy pipeline of opportunities and a number of further transactions which are nearing completion.”
He added: “We therefore look forward to announcing further legacy transactions over the course of the next few weeks.”