Rubicon and NEMWIL have confirmed the completion of the sale of the issued share capital of Link Underwriting Agency.
The completion follows regulatory approval by the Financial Services Commission in Gibraltar for NEMWIL to form Link Insurance Company, which will provide capital for Link's ongoing business.
Under the terms of the sale, Rubicon has entered a long-term agreement with NEMWIL to continue to provide policy and claims administration services to Link for its range of personal insurance products.
It is estimated the arrangement will be worth £35m to Rubicon over the course of the deal.
