R&Q completes on two further transactions
Randall & Quilter Investment Holdings Ltd.
10 January 2019
R&Q completes on two further transactions
Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the completion of a transaction to assume the Workers' Compensation liabilities of a Vermont based self-insurer by R&Q's wholly owned A- rated carrier, Accredited Surety and Casualty Company, Inc ("Accredited"). The transaction provided full finality to the self-insurer and has removed the barrier for the ultimate dissolution of its Workers' Compensation Trust. This marks R&Q's sixth transaction with a self-insurer over the last 2 years.
R&Q is also pleased to announce the novation of reinsurance policies issued between 2002 and 2009 from a Cayman domiciled group captive. The policies were novated into the R&Q owned segregated account company, R&Q Bermuda (SAC) Limited.
The group captive provided Workers' Compensation coverage to its members throughout the United States.
Ken Randall, Chairman and Chief Executive Officer of R&Q, commented: "These two transactions demonstrate our ability to once again provide exit solutions to the self-insurance space and reinforces our market leading position in providing captive exit solutions".
Ends
|
|
|
||||||||||||||||
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
Latest directors dealings
- 27 minutes ago Mitchells & Butlers
- 42 minutes ago London Stock Exchange Group
- 42 minutes ago London Stock Exchange Group
- 1 hour ago I(X) Net Zero NPV
- 1 hour ago Future Metals Nl (DI)