The deluge of news from Randall & Quilter (R&Q) continues with the completion of its swoop for MPS Risk Solutions Limited (MPSRS).
R&Q’s wholly owned subsidiary Accredited Insurance (Europe) Limited has received regulatory approval to close the deal, which will see the European insurance company snap up the entire issued share capital of MPSRS from the Medical Protection Society Limited.
A previous announcement valued the transaction at around £16 million.
“We are delighted to have completed the acquisition of MPSRS,” commented R&Q chair and chief executive Ken Randall. “R&Q takes pride in assisting companies to dispose of companies in run-off and providing finality for the owners.”
MPSRS ceased active underwriting in October 2012 after being formed as a UK authorised insurer subsidiary of its parent firm in January 2004.
Prior to the completion of this transaction, Accredited Insurance (Europe) Limited signed programme underwriting partnerships with UK managing general agents CPD Underwriting Solutions and Kitsune Limited.
