R&Q completes novation

RNS Number : 2757H

Randall & Quilter Inv Hldgs Ltd

12 March 2018

 

Randall & Quilter Investment Holdings Ltd.

R&Q completes novation from two Texas self-insurers

12 March 2018

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the assignment and assumption of the liabilities of two Texas domiciled self-insurance groups to the R&Q owned A- rated carrier, Accredited Surety and Casualty ("Accredited"). 

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are delighted to complete these assumptions in the State of Texas, which represents 2 more successful transactions with self-insurers in the United States. This deal reinforces our team's innovation in structuring transactions to provide full finality in legacy liability exit solutions and working cohesively with the respective insurance regulators to provide these solutions".

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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