Randall & Quilter has announced the acquisition of Inceptum Insurance, part of the Vibe Group, with a promise of more deals within weeks.
The underwriter was placed into run off in 2009 and sold by the HSBC group to Syndicate Holding Corp. on 30 September 2011.
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.”
He added that the deal had been impacted by the ingoing COVID pandemic but revealed that the company was also currently active in the completion of a number of other deals.
“While logistically it has taken longer to complete deals due to Covid19, we are pleased to report that we have a healthy pipeline of opportunities and a number of further transactions which are nearing completion,” he explained. “We therefore look forward to announcing further legacy transactions over the course of the next few weeks.”