Adverse Development Cover

RNS Number : 2544H

Randall & Quilter Inv Hldgs Ltd

09 March 2018

 

Randall & Quilter Investment Holdings Ltd.

R&Q writes Adverse Development Cover to a Risk Retention Group

9 March 2018

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the issuance of adverse development reinsurance covering medical professional liability and general liability risks.  This coverage was written by R&Q's wholly owned A- admitted carrier, Accredited Surety and Casualty Company, Inc. ("Accredited") for the benefit of a U.S. domiciled Risk Retention Group ("RRG") and provides $70m of coverage to protect the RRG from downside risk on their legacy insurance program.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "This transaction adds to the continued development of exit solutions to risk retention groups within the U.S.  We are excited to expand our capabilities using Accredited Surety and Casualty Company, Inc. to assist in solving various issues that arise on legacy liabilities for RRG's, self-insurers, and corporates within the U.S."

Accredited is a wholly owned subsidiary of the R&Q Group. Forty-five years old and headquartered in Florida, Accredited is an AM Best A- (excellent) rated insurance company that is licensed in all fifty states to write admitted business.

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Ken Randall Tel: [phone] Numis Securities Limited Stuart Skinner (Nominated Adviser) Tel: [phone] Charles Farquhar (Broker) Tel: [phone] Shore Capital Stockbrokers Limited Dru Danford / Stephane Auton Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

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 programme 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

 

END

 

 

NRAKKLBBVXFZBBL