R&Q complete two transactions

RNS Number : 8286Q

Randall & Quilter Inv Hldgs Ltd

11 June 2018

 

  

Randall & Quilter Investment Holdings Ltd.

11 June 2018

R&Q complete two transactions

Transaction from California self-insured

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the completion of a transaction to provide full finality to a California based self-insurer by the R&Q owned A- rated carrier, Accredited Surety and Casualty ("Accredited"). This is the first transaction with a self-insurer in California and the fourth across the U.S. over the past 2 years. 

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are delighted to complete this assumption in the State of California, which represents another successful transaction with self-insurers in the United States. This deal reinforces our team's innovation in structuring transactions to provide full finality for legacy liabilities and working cohesively with the respective insurance regulators to provide these solutions".

Captive reinsurance transaction for a large US corporate airline

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the issuance of a reinsurance agreement assuming the legacy liabilities of the Bermuda domiciled captive of a US corporate airline by the R&Q owned A- rated carrier, R&Q Insurance Malta ("RQIM"). We were able to provide the corporate economic relief from their legacy liabilities and we look to continue to provide innovative solutions to meet the needs of our counterparties.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are delighted to complete another transaction with another large US corporate. This deal highlights our continued efforts to service the US corporate market and become a trusted counterparty for reinsurance transactions of this type".

Ends

Randall & Quilter Investment Holdings Ltd. Ken Randall Tel: [phone] Numis Securities Limited (Nominated Adviser) Stuart Skinner Tel: [phone] Charles Farquhar 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

 

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