Trading Update

RNS Number : 9040I

Randall & Quilter Inv Hldgs PLC

22 March 2010

 



Date:	22 March 2010
On behalf of:	Randall & Quilter Investment Holdings plc ("Randall & Quilter" or the "Group")
For immediate release

Randall & Quilter Investment Holdings plc

Trading Update

The Board of Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, service provider and underwriting manager, is pleased to provide a further update to the announcement made on 14 December 2009 regarding the Board's expectations for the Group's financial results for the year ending 31 December 2009.

Owing to a more favourable claims experience than anticipated in the Group's Insurance Company Division, the Board now expects that the Group's result, on a consolidated basis, will be materially better than the previous guidance of a pre-tax loss for the year of up to £5m. The Board now anticipates the final pre tax result for the year will be close to break even.

The preliminary results for 2009 will be announced on 29 April 2010; a meeting for analysts will be held at Redleaf Communications' offices at 0930hrs.

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Enquiries to:

Randall & Quilter Investment Holdings plc	www.rqih.co.uk
Tom Booth	Tel: [phone]
Execution Noble & Co. Ltd.
John Riddell	Tel: [phone]
Numis Securities Limited
Charles Farquhar	Tel: [phone]
Redleaf Communications	r&[e-mail]
Emma Kane/ Alicia Jennings/ Laura Hudson	Tel: [phone]

Notes to Editors:

¡ Since formation, Randall & Quilter has pursued a buy and build strategy to create a comprehensive range of investment activities and services in the global non-life insurance market and is focused on the following four core areas:

-     Insurance Investments;

-     Insurance Services;

-     Underwriting Management; and

-     Captives

¡ The Group currently has:

-   a portfolio of 8 insurance companies in run-off (from the UK, US and Europe) with net assets of c.£61m as at 30 June 2009;

-   wide service capability in both the 'live' and 'run-off' markets

-   a team of approximately 215 insurance professionals based in the UK, USA and Bermuda; and

-   'in principle' approval by Lloyd's of London to provide 'turnkey' management services to syndicates.

¡ The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Group Finance Director who both have extensive experience in the industry including as Head of Regulation of Lloyd's and as Head of the Market Financial Services Group respectively.

 

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