R&Q completes assignment of liabilities

RNS Number : 2750H

Randall & Quilter Inv Hldgs Ltd

13 March 2018

 

Randall & Quilter Investment Holdings Ltd.

R&Q completes assignment of large deductible liabilities from U.S. Manufacturer

13 March 2018

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the assignment of insurance liabilities under deductible policies.

The underlying liabilities relate to workers' compensation policies issued to a US corporate from a large US carrier. This transaction allowed the carrier to assign the insurance liabilities under the deductible policies, therefore providing full finality to the corporate, while keeping the original carrier fully collateralized. 

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are excited to continue to provide unique exit solutions for legacy insurance liabilities to U.S. corporates.  This transaction further demonstrates the depth of our penetration into providing innovative solutions to North American self-insured risks."

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 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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