Results Date Announcement

RNS Number : 9439L

Randall & Quilter Inv Hldgs Ltd

01 May 2015

 

Randall & Quilter Investment Holdings Ltd.

Results Date Announcement

1 May 2015

In the Group's trading update on March 12, it was announced that the 2014 final year result was subject to the finalisation of customary annual actuarial reviews and the timing and outcome of the ongoing arbitration in former Syndicate 102. The actuarial reviews have now been completed and the results are in line with expectations.

With regard to the Syndicate 102 arbitration, we have recently been informed by the Umpire of the arbitration that the Panel's goal is 'to complete deliberations and issue a decision by the end of May'. The Group will release its full year results as soon as practicable thereafter.

The Board remains positive about prospects for 2015 with a strong legacy acquisition pipeline and good progress on new business generation in the service division.

The Board expects to propose a final cash distribution of 5.0p per share to shareholders and the timetable will be announced, as usual, in the full year results."

-Ends-

Enquiries to:

Randall & Quilter Investment Holdings Ltd.	www.rqih.com
Tom Booth	Tel: [phone]
Numis Securities Limited
Stuart Skinner/Robert Bruce (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]

About R&Q

Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.

R&Q is focused on the following three core areas:

·      Insurance Investments

·      Insurance Services

·      Underwriting Management

The Group:

·      provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;

·      has a team of over 400 insurance professionals based in the UK, US, Bermuda, and Europe with wide service capability in both the 'live' and 'run-off' markets;

·      owns and manages a portfolio of insurance companies, both active and in run-off, in the UK, US and Europe with net assets of £110.7m as at 30 June 2014;

·      owns an admitted P&C Insurer, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company which currently supports the Group's syndicate participations;

·      launched Syndicate 1991 which commenced underwriting from January 1, 2013 with a capacity of £150m for 2015, manages one RITC ('run-off') syndicate, 3330, and owns and operates 2 MGA business units;

·      acquires and manages a portfolio of insurance receivables, with a carrying cost of £10.6m as at 30 June 2014, of which R&Q holds a 50% interest 

The Group was founded by Ken Randall and Alan Quilter in 1991.

Website: www.rqih.com

 

END

 

 

MSCDBLFXEZFEBBB