Completion of acquisition

RNS Number : 3148V

Randall & Quilter Inv Hldgs PLC

01 November 2010

 



Date:	1 November 2010
On behalf of:	Randall & Quilter Investment Holdings plc ("Randall & Quilter" or the "Group")

Randall & Quilter Investment Holdings plc

Completion of the acquisition of Reinsurance Solutions Limited, Reinsurance Solutions LLC and Excess & Treaty Management Corporation

The Board of Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, service provider and underwriting manager, today announces that following regulatory approval from the FSA, it has completed the acquisition of Reinsurance Solutions Limited, Reinsurance Solutions LLC and various other related assets and liabilities from Guy Carpenter & Company, LLC and Marsh Limited.

In addition, on 30 September 2010 the Group completed the acquisition of the Excess & Treaty Management Corporation.

These acquisitions were all completed on the terms disclosed in the announcement made on 13 September 2010.

Enquiries to:

Randall & Quilter Investment Holdings plc

(www.rqih.co.uk)

Tom Booth

Tel: [phone]

Numis Securities Limited

Stuart Skinner (Nominated Advisor)

Tel: [phone]

Charles Farquhar (Broker)

Tel: [phone]

Shore Capital Stockbrokers Limited

Dru Danford / Stephane Auton

Tel: [phone]

Redleaf Communications

r&[e-mail]

Emma Kane/ Alicia Jennings/ Adam Leviton

Tel: [phone]

 Notes to Editors:

Since formation, Randall & Quilter has pursued a buy and build strategy to create a comprehensive range of investment activities and services in the global non-life insurance market and is focused on the following four core areas:

-    Insurance Investments;

-    Insurance Services;

-    Underwriting Management; and

-    Captives

The Group currently has:

-    a portfolio of nine insurance companies in run-off (from the UK, US and Europe) with net assets of c.£74m as at 30 June 2010;

-    wide service capability in both the 'live' and 'run-off' markets

-    a team of approximately 315 insurance professionals based in the UK, USA, Canada and Bermuda; and

-    'in principle' approval by Lloyd's of London to provide 'turnkey' management services to syndicates.

The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Group Finance Director who both have extensive experience in the industry including as Head of Regulation of Lloyd's and as Head of the Market Financial Services Group respectively.

 

END

 

 

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