Bermuda
05 July 2017
Reporter: Becky Butcher
R&Q completes acquisition of AstraZeneca captive
Randall & Quilter Investment Holdings (R&Q) has completed the purchase of AstraZeneca Insurance Company, the captive of The AstraZeneca Group.

R&Q originally announced the acquisition on 23 December 2016, subject to regulatory approval and pre-completion capital structuring.

AstraZeneca will be managed by R&Q, with the intention of transferring the remaining insurance business to one of R&Q’s consolidation vehicles.

Commenting on the acquisition, Ken Randall, chair and CEO of R&Q, said: “We are pleased to have completed this transaction with AstraZeneca UK Limited. This is the second transaction that we have concluded with AstraZeneca to assist them exiting their captive insurance companies in run-off and further demonstrates the attractions of the group’s offerings to major corporations.”

R&Q also acquired IC Insurance in 2015 from owners AstraZeneca UK and Imperial Chemicals Industries.

More Industry news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
North Carolina captive industry sees ‘rapid growth’
19 July 2017 | Raleigh | Reporter: Becky Butcher
The North Carolina captive insurance industry experienced rapid growth in 2016, according to the state’s Department of Insurance
NSU to launch new surety captive
17 July 2017 | Philadelphia | Reporter: Stephanie Palmer
National Surety Underwriters has raised $11.5 million in funding for the capitalisation of a new special-purpose surety reinsurance captive, the National Fidelity Reinsurance Company
Risk Strategies snaps up employee benefits duo
13 July 2017 | Boston | Reporter: Becky Butcher
Risk Strategies Company has welcomed Kate Genovese and Pauline Sobelman to its employee benefits practice group
Severe US weather outbreaks cause £3bn in losses
13 July 2017 | Chicago | Reporter: Becky Butcher
Worldwide economic and insured losses during June were largely driven by several major severe weather outbreaks in the US, according to Aon Benfield’s Impact Forecasting
ILS continues to drive innovation
11 July 2017 | Zurich | Reporter: Becky Butcher
The insurance-linked securities (ILS) market will continue to drive innovation and efficiency in risk financing for the benefit of protecting buyers and investors, according to Christoph Buerer of Twelve Capital
CBL acquires stake in Allied Risk Holdings
10 July 2017 | Dublin | Reporter: Becky Butcher
CBL Corporation has acquired a 40 percent stake in Allied Risk Holdings, a captive insurance management firm in Dublin, for €1.38 million
Owen-Dunn expands captive footprint
06 July 2017 | California | Reporter: Becky Butcher
Sacramento-based Owen-Dunn Insurance Services has expanded its captive insurance offering, after seeing growing demand from mid-size business owners