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)

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