R&Q acquires RLGI in £12mn deal

Legacy-to-live carrier Randall & Quilter (R&Q) has
acquired The Royal London General Insurance Company Ltd (RLGI), a
UK non-life insurer in run-off, for £11.9mn ($15.8mn).
In a statement released today the company said the purchase
price represented a discount to RLGI's net assets of
£13.5mn at year-end 2015.
The deal will be financed by R&Q's group bank facility
and cash at hand.
R&Q said it planned to move the business to its Maltese
operation by the end of 2017 via