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CMI Cummins Inc

284.405
3.67 (1.31%)
Last Updated: 17:10:00
Delayed by 15 minutes
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

Randall & Quilter Acquires Captive Insurer ICDC

22/03/2017 9:09am

Dow Jones News


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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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