RANDALL & QUILTER COMPLETES FRENCH RUN-OFF ACQUISITION

UK-based insurance services organization Randall & Quilter (R&Q) has closed its acquisition of France-domiciled La Réassurance Intercontinentale (La RI) from locally based MMA, for €1.5m ($1.95m). It has also assumed further legacy reinsurance obligations and associated assets from MMA for €200,000 net. La RI, which has been in run-off since 2010, consists mainly of third party reinsurance business, with net reserves of about €4.1m by the end of last year. It had a net asset value of about €1.8m as of December 31 2012.