Hiscox to acquire R&Q businesses

Bermuda-based Hiscox is set to acquire two businesses from insurance services and investment company Randall & Quilter (R&Q).

A preliminary agreement has been reached between the two businesses, which would see Hiscox acquire R&Q Marine Services (RQMS) and the business of Synergy to the Hiscox Group.

The potential sale of these businesses is part of the targeted disposal plan mentioned in the trading update in November.

R&Q said that the completion is currently anticipated to be within the first quarter of 2015.