Brit Insurance Holdings has revealed plans to acquire the remaining shares in PRI Group, after its offer for PRI was declared wholly unconditional.
By 11 June, Brit had either owned or had received valid acceptances under its offer in respect of approximately 99.56% of PRI shares.
At the time of the original offer Brit chairman Clive Coates said: "This is a tremendous leap forward for Brit.
"We believe that the combined businesses of Brit and PRI provide an excellent opportunity to service the UK and other insurance markets with a wider product base and stronger capital base."
Brit chief executive Neil Eckert said: "This transaction further establishes Brit as a market leader in the UK small to medium commercial insurance sector.
PRI's listing on the Alternative Investment Market is expected to be cancelled from 18 June.
