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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cummins Inc | NYSE:CMI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
3.67 | 1.31% | 284.405 | 286.94 | 283.52 | 284.22 | 153,700 | 17:10:00 |
LONDON--Insurance services company Randall & Quilter Investment Holdings Ltd. (RQIH.LN) said Wednesday that it has acquired ICDC Ltd., a captive insurer of engineering company Cummins Inc. (CMI), for an undisclosed sum.
A captive insurance company is a company that provides risk-mitigation services for its parent company or for a group of related companies.
ICDC, which is in run-off, reinsured workers' compensation, commercial general liability, business auto liability, business auto physical damage and property risks of its parent. It had a total net asset value of $7.95 million as at Dec. 31, 2016, and reserves of around $2.76 million.
Shares of Randall & Quilter at 0837 GMT were unchanged at 124 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
March 22, 2017 04:54 ET (08:54 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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