ACE Limited said yesterday that it has completed thecontroversial sale of three runoff reinsurance subsidiaries withasbestos liabilities to Randall & Quilter Investment HoldingsLimited, an international insurance management firm.

Rival insurers had asked a regulator to block the sale of ACEAmerican Reinsurance Company, Brandywine Reinsurance Co. (UK) Ltd.and Brandywine Reinsurance Company S.A.-N.V. to Randall &Quilter.

The deal was first announced in January 2005, the Bermuda-basedcarrier said.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.