Portfolio transfer

RNS Number : 3059B

Randall & Quilter Inv Hldgs Ltd

30 January 2020

 

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

Portfolio transfer from Lansen Försäkringsaktiebolag to Accredited Insurance (Europe) Limited

30 January 2020

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce that its wholly owned subsidiary Accredited Insurance (Europe) Limited has completed the transfer of business from Lansen Försäkringsaktiebolag (Lansen), a wholly owned subsidiary of SAAB Aktiebolag ("SAAB").

The transfer will help to enable SAAB to close its captive insurer that is no longer required due to the changing insurance market.

Ken Randall, Group Executive Chairman of R&Q, commented: "We are pleased to have completed the transfer of legacy business for SAAB which related to a captive insurer that has ceased trading. This transaction continues to demonstrate R&Q's ability to assist companies manage liabilities relating to discontinued business lines and is the first with a Swedish captive, a territory where we have other opportunities in the pipeline."

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 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

 

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