R&Q completes two transactions

RNS Number : 6139I

Randall & Quilter Inv Hldgs Ltd

28 November 2018

 

 

Randall & Quilter Investment Holdings Ltd.

28 November 2018

R&Q completes two transactions

Transaction from California self-insured

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the completion of a transaction to provide full finality to a California based self-insurer by R&Q's wholly owned subsidiary, Accredited Surety and Casualty Company, Inc. ("Accredited"). This is the second transaction with a self-insurer in the state of California and the fifth across the U.S. over the past 2 years. 

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained: "We continue to provide solutions to the self-insurer space and this transaction shows our ability to build upon previous success and experiences with various states across the U.S."

Novation for Cayman based Group Captive

R&Q is also pleased to announce the completion of a novation of the workers' compensation and commercial auto liabilities of a Cayman based group captive that provided coverage to trucking companies located throughout the US. The liabilities were novated into R&Q's segregated account company in Bermuda. R&Q was able to provide a solution to the captive that provided full finality on its older insurance years.  R&Q continues to remain capable and enthusiastic to meet the captive market's growing demand for exit solutions related to legacy liabilities.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are delighted to complete another novation with a group captive.  This transaction shows our continued focus on being the go-to counter-party for exit solutions in the captive market."

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 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 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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