Legacy agreement

RNS Number : 8017J

Randall & Quilter Inv Hldgs Ltd

22 August 2019

 

 

Randall & Quilter Investment Holdings Ltd.

22 August 2019

R&Q provides legacy reinsurance for a Bermuda domiciled captive

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the issuance of a reinsurance agreement to assume the legacy liabilities from the Bermudian captive of a US based airline. The reinsurance is written by the R&Q owned A- rated carrier, Accredited Insurance (Europe) Limited. This agreement follows a similar deal struck last year with the same counterparty and is now providing economic relief for additional policy years.  

Ken Randall, Executive Chairman of R&Q, explained "We are pleased to complete this follow-on transaction and build on our previous knowledge of the book and our client to again deliver an exit solution. We are always thrilled when mutual success on a particular deal leads to re-engagement with that counterparty on future transactions." 

Ends

Randall & Quilter Investment Holdings Ltd. Ken Randall Tel: [phone] Numis Securities Limited (Nominated Adviser) Stuart Skinner Tel: [phone] Charles Farquhar Tel: [phone] 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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