TIDMRQIH

RNS Number : 3152I

Randall & Quilter Inv Hldgs Ltd

08 August 2019

Randall & Quilter Investment Holdings Ltd. ("R&Q")

8 August 2019

R&Q provides legacy reinsurance for a Bermuda domiciled captive

R&Q is pleased to announce the issuance of a loss portfolio transfer reinsurance covering workers' compensation, product, auto, and general liability risks. This coverage was written by R&Q's wholly owned A- admitted carrier, Accredited Surety and Casualty Company, Inc. for the benefit of a Bermuda domiciled captive. The reinsurance was part of a larger transaction involving the sale of one of the parent company's business units to a strategic buyer.

Ken Randall, Executive Chairman of R&Q, explained "We are thrilled to have been able to provide an exit solution to our client's legacy liabilities and facilitate the sale of one its largest business units. This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic acquisitions. We are pleased that R&Q continues to be a market of choice for such transactions."

Ends

 
  Randall & Quilter Investment Holdings 
    Ltd. 
   Ken Randall                             Tel: 020 7780 5945 
 
    Numis Securities Limited (Nominated Adviser) 
   Stuart Skinner                          Tel: 020 7260 1000 
   Charles Farquhar 
 
    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

MSCSSWFMWFUSEDA

(END) Dow Jones Newswires

August 08, 2019 02:00 ET (06:00 GMT)

R&q Insurance (LSE:RQIH)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more R&q Insurance Charts.
R&q Insurance (LSE:RQIH)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more R&q Insurance Charts.