R&Q buys Takaful run-off firm Principle
Run-off specialist Randall & Quilter is to buy Principle Insurance, the UK Takaful motor insurer put into run-off in October 2009, for £4.275m.
R&Q said Principle had net reserves of £2.8m as at 30 June, 2011 and a net asset value of £5.1m as at 31 December 2010 (the date of the latest available audited accounts).
Ken Randall, chief executive
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