Randall & Quilter Investment Holdings Ltd is to acquire Chevanstall Ltd, the run-off of the former Tryg-Baltica International UK Ltd, from its Danish parent group TrygVesta.

Announcing its half year results, TrygVesta said the deal was a “natural step in the group’s strategy of focusing on the Nordic markets,” adding that the divestment would have a favourable impact of DKK 80 million (£7.3 million) on its full-year results.

The transaction is subject to approval by the UK Financial Services Authority and is expected to be completed in the third quarter of 2006.