TIDMRQIH
RNS Number : 6755C
Randall & Quilter Inv Hldgs Ltd
19 June 2019
19 June 2019
Randall & Quilter Investment Holdings Ltd.
("R&Q", "Group" or the "Company")
Appointment of Executive Director and Senior Management
Changes
The Board of Randall & Quilter Investment Holdings Ltd. the
non-life legacy insurance investor and capacity provider of US and
European MGA program business, today announces that Ken Randall is
to step down as Group CEO, but will be continuing as Executive
Chairman of the Group.
The Board is pleased to announce the appointment of Dr Roger
Sellek as a Director of the Company.
Alan Quilter and Dr Roger Sellek are to be appointed to the
newly-created positions of Joint Chief Executive Officers.
Following Roger's appointment, the Board will comprise four
Executive Directors (Ken Randall, Alan Quilter, Mark Langridge and
Roger Sellek) and four Non-Executive Directors (Michael Smith,
Alastair Campbell, Phil Barnes and Ms. Jo Fox).
Alan Quilter, a Chartered Accountant, jointly founded the
business with Ken Randall in 1991 and currently serves as Group
Chief Financial Officer.
Roger Sellek joins R&Q from AM Best, the leading
international credit-rating agency focused on the insurance sector,
where he was CEO with responsibility for the group's worldwide
activities ex-Americas. Roger was with AM Best for 12 years,
initially based in London and relocating to Singapore in 2015.
Prior to joining AM Best, Roger held senior roles within the
Corporation of Lloyd's, providing leadership across a range of
areas including the development and implementation of key
initiatives such as Risk-Based Capital and Realistic Disaster
Scenarios as well as the modelling of Lloyd's Central Fund
adequacy. He was also responsible for delivery of the initial
credit ratings for the Lloyd's Market. As Commercial Director at
Lloyd's from 2000, he was responsible for the market's strategic
business relationships with its investor base, brokers, the rating
agencies and the financial-analyst community. Roger first entered
the world of insurance when he joined a predecessor company of
R&Q in 1993 where he was involved in a number of important
projects, notably in relation to the formation of Equitas.
In addition to over 25 years of wide-ranging experience and
achievement in the insurance and reinsurance sectors, Roger has an
academic background and holds both a BSc and PhD in mathematical
physics from the University of Exeter. Roger also holds an MBA in
strategic management from Imperial College at the University of
London.
In his new role at R&Q, Dr Sellek will be jointly
responsible with Alan Quilter for the efficient and effective
running of the Group's business and will have direct management
responsibility for a number of the Group's business activities.
Ken Randall, Group Executive Chairman said: "Succession planning
has been high on the Board's agenda and, with the continued
development of R&Q's business, it's time to add further
strength to our senior leadership team and for me to step back from
day-to-day operations. Alan founded the business with me nearly 30
years ago and has played a key part in the growth of the business.
He will retain oversight of the Group's financial and investment
management activities. Roger has been known to the Group for many
years and I am delighted to welcome him back to R&Q after an
absence of more than 25 years. Subject to confirmation of necessary
work and residence permits, Roger will initially be based in
Bermuda, where the Group is domiciled."
Dr Sellek said: "Ken Randall persuaded me to enter the insurance
industry from academia many years ago and I'm delighted to have the
opportunity now to be able to work with Ken, Alan and Mark. R&Q
has evolved to become a major force in its chosen sectors of the
insurance industry and I am very much relishing the opportunity to
contribute to its continuing growth as part of the leadership
team."
Additional disclosures
In addition to the appointment to the Board, Roger Sellek, aged
62, holds or has held the following directorships in the past five
years.
Current directorships Previous directorships held in
the last 5 years
None A.M. Best Europe - Rating Services
Ltd
===================================
A.M. Best Asia Pacific Ltd
===================================
A.M. Best Asia-Pacific (Singapore)
Pte Ltd
===================================
A.M. Best (EU) Rating Services
B.V.
===================================
A.M. Best Europe - Information
Services Ltd.
===================================
There is no further information that is required to be disclosed
with regards to the appointment of Roger Sellek pursuant to
Schedule 2 paragraph (g) of the AIM Rules.
Ends.
This announcement contains inside information.
Enquiries to:
Randall & Quilter Investment Holdings
Ltd.
Ken Randall Tel: 0207 780 5945
Numis Securities Limited (Nominated Adviser)
Stuart Skinner Tel: 020 7260 1000
Charles Farquhar Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
Stephane Auton/James Thomas Tel: 020 7408 4090
FTI Consulting
Edward Berry/Tom Blackwell Tel: 020 3727 1046
Notes to Editors:
About R&Q
The overall mission of the Bermuda based Group is to:
-- generate profits and capital extractions from expert
management of legacy non-life insurance acquisitions/ reinsurances,
including in Lloyd's; and
-- grow commission income from its licensed (and rated) carriers
in the US and EU/UK, writing niche and profitable program business,
largely on behalf of highly rated reinsurers.
Our aim is to continue to grow sustainable profit streams to
support our business model and increase book value and cash
distributions to shareholders.
The Group was founded by Ken Randall and Alan Quilter in
1991.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOAGGUQPQUPBGQR
(END) Dow Jones Newswires
June 19, 2019 02:00 ET (06:00 GMT)
R&q Insurance (LSE:RQIH)
Historical Stock Chart
From Mar 2024 to Apr 2024
R&q Insurance (LSE:RQIH)
Historical Stock Chart
From Apr 2023 to Apr 2024