Trading Update

RNS Number : 8690W

Randall & Quilter Inv Hldgs PLC

01 February 2013

 



Randall & Quilter Investment Holdings plc

Trading Update

1 February 2013

The Board of Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, service provider and underwriting manager, announces that it expects that the Group's pre-tax result for the year ending 31 December 2012, to be in line with current market expectations. 

The Board remains confident in the positive outlook for the Group during 2013.

The Group's preliminary results will be announced on 25 April 2013.

- ends -

Enquiries to:

Randall & Quilter Investment Holdings PLC                          www.rqih.com  

Tom Booth                                                                              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                                                                              

Neil Doyle/Edward Berry                                                        Tel: [phone] / 7297

Notes to Editors:

R&Q 

Since formation, Randall & Quilter has pursued a buy and build strategy to create a comprehensive range of investment activities and services in the global non-life insurance market and is focused on the following three core areas:

-          Insurance Investments;

-          Underwriting Management; 

-          Insurance Services & Captive Management

The Group currently:

- has a team of up to 400 insurance professionals based in the UK, USA, Bermuda, and Continental Europe with wide service capability in both the 'live' and 'run-off' market;

- has a portfolio of 11 insurance companies in run-off (from the UK, US and Continental Europe) with net assets of c.£85.9m as at 30 June 2012;

- has launched Syndicate 1991 which commenced underwriting from January 1, 2013 with a Capacity of £77m for 2013, provides 'turnkey' management services to Lloyd's syndicate 1897, manages two RITC ('run-off') syndicates and owns and operates 3 MGAs; 

- acquires and manages a portfolio of insurance receivables, with a carrying cost of c.£8.1m as at 30 June 2012;

The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Chief Operating Officer.

 

END

 

 

TSTUAVBROOAAOAR