Facultative reinsurance certificate to US carrier

RNS Number : 5339F
Randall & Quilter Inv Hldgs Ltd
30 October 2018
 

 

 

Randall & Quilter Investment Holdings Ltd.

 

R&Q writes facultative reinsurance certificate to a large US carrier

 

30 October 2018

 

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the issuance of a facultative reinsurance certificate to a large US P&C carrier. The collateralized reinsurance policy was written from a cell within R&Q's wholly owned subsidiary, R&Q Quest Insurance Limited.

 

The underlying liabilities covered by the reinsurance relate to the deductibles of workers' compensation policies issued between 2013 and 2016 to a US corporate. This policy allowed the carrier to commute the deductible coverage with the corporate, therefore providing full finality to the corporate while remaining fully collateralized.

 

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are pleased to complete another facultative reinsurance with a large US carrier. This transaction is yet another example of R&Q's innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q."

 

Ends

 

Enquiries to:

 

Randall & Quilter Investment Holdings Ltd.

www.rqih.com

Ken Randall

Tel: 020 7780 5945

 

Numis Securities Limited

Stuart Skinner (Nominated Adviser)

Tel: 020 7260 1000

Charles Farquhar (Broker)

Tel: 020 7260 1000

 

Shore Capital Stockbrokers Limited

Dru Danford / Stephane Auton

 

Tel: 020 7408 4090

FTI Consulting

Edward Berry/Tom Blackwell

 

Tel: 020 3727 1046

 

 

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


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.
 
END
 
 
NRAEAEENADPPFFF
UK 100