Notice of Results

RNS Number : 3675Q

Randall & Quilter Inv Hldgs Ltd

17 June 2015

 

Randall & Quilter Investment Holdings Ltd.

Notice of Results

17 June 2015

Further to the announcement on 1st May concerning the date for publication of the Group's results for 2014, the Board of Randall & Quilter has been advised that the Syndicate 102 arbitration has been successfully concluded with terms which, whilst still being fully worked through, are likely to result in the Group's pre-tax result for 2014 being within the range of market expectations.

The Board is pleased to have removed the uncertainty stemming from this long-standing dispute.

The Board reiterates the payment of a final distribution of 5p per share, subject to customary processes and timings and looks forward to a much stronger 2015.

The full year 2014 results are now expected to be released on Monday 22nd June 2015.

-Ends-

Enquiries to:

Randall & Quilter Investment Holdings Ltd.	www.rqih.com
Tom Booth	Tel: [phone]
Numis Securities Limited
Stuart Skinner/Robert Bruce (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]

About R&Q

Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.

R&Q is focused on the following three core areas:

·      Insurance Investments

·      Insurance Services

·      Underwriting Management

The Group:

·      provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;

·      has a team of over 400 insurance professionals based in the UK, US, Bermuda, and Europe with wide service capability in both the 'live' and 'run-off' markets;

·      owns and manages a portfolio of insurance companies, both active and in run-off, in the UK, US and Europe with net assets of £110.7m as at 30 June 2014;

·      owns an admitted P&C Insurer, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company which currently supports the Group's syndicate participations;

·      launched Syndicate 1991 which commenced underwriting from January 1, 2013 with a capacity of £150m for 2015, manages one RITC ('run-off') syndicate, 3330, and owns and operates 2 MGA business units;

·      acquires and manages a portfolio of insurance receivables, with a carrying cost of £10.6m as at 30 June 2014, of which R&Q holds a 50% interest 

The Group was founded by Ken Randall and Alan Quilter in 1991.

Website: www.rqih.com

 

END

 

 

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