R&Q COMPLETES ALMA ACQUISITION

UK-based insurance services group Randall & Quilter (R&Q) has completed its acquisition of Finland-based Alma Insurance, which has been in run-off since 1989. Alma comprises an international reinsurance business with net reserves of about £1.6m ($2.6m) on September 30 2012. R&Q is paying £4.4m for the business at a discount to estimated adjusted net asset value. The business will be managed by R&Q Insurance Services.