Board Appointment
R&Q Insurance Holdings Ltd
Board Appointment
22 August 2022
R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q"), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce the appointment of Robert Legget as Senior Independent Director. Robert will join the Board as of 26 August 2022.
Alastair Campbell, current Senior Independent Director, will remain an Independent Director. He will retire as previously planned on 31 January 2023, after nine years on the Board.
The appointment forms part of R&Q's ongoing, and previously announced, plans to enhance its Board composition. The Board plans to introduce an Independent Non-Executive Chairman as soon as possible with the appointment of further Independent Directors in due course.
Robert Legget is Chairman of Progressive Value Management, a firm that focuses on the creation of shareholder value, which he co-founded in 2000. Prior to this, Robert was a Director, Corporate Finance, with Quayle Munro (now part of Houlihan Lokey), the Edinburgh-based merchant bank. During his career he has also held a number of senior finance and accounting roles. Robert is a qualified chartered accountant and holds an MBA.
William Spiegel commented: "Robert's appointment will improve the mix of opinion, expertise and perspective available to the Board. In particular, his corporate governance experience and background in capital markets and advising investors will be of significant value.
I would also like to thank Alastair whose wisdom and insight has been invaluable to me and the Board. His considered and collaborative approach has been critical in helping guide the Board over many years, and I am pleased he will continue to make an important contribution until his well-earned retirement in January."
Robert Legget said: "I look forward to working closely with William and his fellow Board members to help support the delivery of the current strategy and enable R&Q to achieve its potential."
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Enquiries to:
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Notes to Editors:
About R&Q
R&Q is a non-life global specialty insurance company operating two highly complementary businesses: Program Management and Legacy Insurance. Both of these businesses are leaders in markets with high barriers to entry and significant growth opportunities. Legacy Insurance generates profits and capital extractions from expert management of legacy non-life insurance portfolios. Program Management generates commission income from its licensed (and rated) carriers in the US, EU and the UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
In accordance with Schedule 2(g) of the AIM Rules:
In addition to the appointment to the Board, Robert William Lindsay Legget, aged 72, holds or has held the following directorships in the past five years.
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Current directorships |
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Downing Strategic Micro-Cap Investment Trust PLC |
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Luffness New Golf Club Limited |
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Progressive Asset Management Limited |
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Progressive Value Management Limited |
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Sureserve Group plc |
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Trian Investors 1 Limited |
Robert Legget was a director of Unisoft Ltd which appointed liquidators in November 2001 for a creditors' voluntary liquidation and there was a shortfall on an intercompany loan owed to Unisoft Ltd's parent company. The company was dissolved in September 2004.
Robert Legget was a director of both Progressive AIM Realisation Limited and Progressive Asset Management Limited within 12 months of the date on which liquidators were appointed, being August 2016, for a members' voluntary liquidation. The companies were dissolved in January 2019, there were no creditor losses.
There is no further information disclosable in respect of Robert Legget pursuant to Schedule 2(g) of the AIM rules for companies.
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