Regulatory Approval of UK Legacy Acquisitions

RNS Number : 4768K

Randall & Quilter Inv Hldgs Ltd

05 January 2021

 

Randall & Quilter Investment Holdings Ltd.

Regulatory Approval of UK Legacy Acquisitions

5 January 2021

Further to its announcements on 19 August 2020 and 21 August 2020, Randall & Quilter Investment Holdings Ltd. ("R&Q"), is pleased to announce that its wholly owned UK subsidiary, Randall & Quilter II Holdings Limited, has received regulatory approval and has completed the acquisitions of Inceptum Insurance Company Limited ('Inceptum") and The World Marine & General Insurance Company PLC ('WMG").

Inceptum was incorporated in England & Wales in 1998. The Company was placed into run-off in September 2009 and sold by the HSBC group to Syndicate Holding Corp. on 30 September 2011. Inceptum is part of the Vibe Group of companies.

WMG was incorporated in England & Wales in 1894 and was purchased by BHP in 1987. BHP is a world-leading resources company which focuses on the extraction and processing of minerals, oil and gas worldwide. WMG wrote various insurance coverages since incorporation and from 1987 the Company provided insurance protection solely for the BHP Group until it was placed into run-off in 2001.

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Enquiries to: Randall & Quilter Investment Holdings Ltd. www.rqih.com Paul Corver Tel: [phone] Numis Securities Limited Stuart Skinner (Nominated Adviser) Tel: [phone] Charles Farquhar (Broker) 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 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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