Hiscox and R&Q Synergy MGA deal stopped
Insurer pushes ahead with £9.25m yacht and marine trade MGA buy.
Hiscox has completed the deal to buy R&Q Marine Services (RQMS) from Randall & Quilter (R&Q) for £9.25m in cash.
However the deal, first flagged in January, was supposed to include Hiscox also buying high net worth managing general agent (MGA) Synergy.
R&Q confirmed that the two parties were unable to agree on the terms and so this element has been stopped.
The firm detailed that it would receive £6.9m from the sale of the specialist yacht and marine trades MGA with the rest going to minority
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