Markel International is set to buy specialist underwriter ECIC for an undisclosed sum.
According to Markel the contracts have been signed and the deal is expected to complete in the final quarter of this year.
The ultimate parent of ECIC is the Electrical Contractors’ Association (ECA) and the documents were signed following approval from the ECA council.
ECIC noted in a statement: “ECA was particularly attracted to Markel as the new owner by virtue of its commitment and expertise
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