Marco Capital Holdings Ltd, the European P&C insurance run-off group, has completed its acquisition of Inceptum Insurance Company Ltd, the British non-life insurance company in run-off, from Bermudian-based Randall & Quilter II Holdings Ltd (in administration).

The company said it was acting on instruction of joint administrators at Teneo Financial Advisory Ltd.

The transaction, which was announced in June, has received all required regulatory approvals.

Simon Minshall, Marco chief executive, said: “The acquisition of Inceptum, a company itself in run-off, by Marco brings financial and operational stability to a complex and challenging situation for the benefit of all stakeholders.

“Executing a deal in such a complex situation is an example where Marco’s technical skills, experience, track record and outstanding reputation are essential.”