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: [phone] Numis Securities Limited Stuart Skinner (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]

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

 

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