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LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd on Monday said it has sold Synergy Insurance Services (UK) Ltd, a specialist managing general agent, to Plum Underwriting Ltd.
Synergy was sold for more than its carried value in Randall & Quilter Investment Holdings' latest set of accounts, though no specific financial details were disclosed.
"The sale of Synergy is part of the targeted disposal strategy first referred to at the end of 2014, which will enable the group to focus on its core strengths. Following a full evaluation process, the board has determined that the growth potential of the business is greater for a larger scale underwriting agency such as Plum with its strong existing focus on the UK and ROI home insurance market," Randall & Quilter Investment Holdings said.
Shares in Randall & Quilter were untraded at 90.00 pence on Monday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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