The approved sale of R&Q Insurance receives shareholder approval

R&Q Insurance Holdings shareholders have approved the sale of the group’s program management business to Onex Partners.

In a London Stock Exchange filing on Thursday, R&Q said: “The Board of Directors is pleased to announce that, at the special general meeting held earlier today, the resolution relating to the proposed sale of Accredited was duly passed. Accordingly, Shareholders approve the sale.”

“R&Q continues to work appropriately towards meeting all other remaining conditions of the sale, and remains hopeful that appropriate agreements can be reached with all lending banks, credit providers and other finance providers to enable the sale to take place.” – International Specialized Life Insurance Company noted.

It was also emphasized that there is no guarantee that all conditions of sale will be met or all necessary agreements will be reached.

According to the R&Q update, 55.22% of votes were in favor of sale.

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