R&Q provides legacy reinsurance for captive

RNS Number : 3152I

Randall & Quilter Inv Hldgs Ltd

08 August 2019

 

 

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

8 August 2019

R&Q provides legacy reinsurance for a Bermuda domiciled captive

R&Q is pleased to announce the issuance of a loss portfolio transfer reinsurance covering workers' compensation, product, auto, and general liability risks. This coverage was written by R&Q's wholly owned A- admitted carrier, Accredited Surety and Casualty Company, Inc. for the benefit of a Bermuda domiciled captive. The reinsurance was part of a larger transaction involving the sale of one of the parent company's business units to a strategic buyer.  

Ken Randall, Executive Chairman of R&Q, explained "We are thrilled to have been able to provide an exit solution to our client's legacy liabilities and facilitate the sale of one its largest business units. This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic acquisitions. We are pleased that R&Q continues to be a market of choice for such transactions."

Ends

Randall & Quilter Investment Holdings Ltd. Ken Randall Tel: [phone] Numis Securities Limited (Nominated Adviser) Stuart Skinner Tel: [phone] Charles Farquhar Shore Capital Stockbrokers Limited Stephane Auton/James Thomas 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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