Underwriting Agreement

RNS Number : 8830Y

Randall & Quilter Inv Hldgs Ltd

11 December 2017

 

Randall & Quilter Investment Holdings Ltd.

R&Q Insurance (Malta) announces delegated underwriting agreements

1 December 2017

R&Q Insurance (Malta) Limited ("RQIM") is pleased to announce that it has entered into delegated underwriting agreements with both Xpekt Limited ("Xpekt") and Blagrove Underwriting Agency Limited ("Blagrove").

Xpekt is a UK motor MGA specialising in rural private and commercial vehicles, motorcycles and specialist vehicles with anticipated annualized GWP of £15.6m whilst Blagrove specialises in UK fleet with expected annualized GWP of £11.6m. These programmes are in addition to the UK motor book being written with Eridge Underwriting Agency Ltd and the Irish motor book with Footprint Underwriting DAC.

Ken Randall, Chairman and CEO of the R&Q Group commented "We are delighted to have entered into these programmes with support provided by highly rated reinsurers.  As has been previously announced, the Group is simplifying its strategy to focus on its core legacy acquisition activity and revenue generation through writing programme business from our Maltese (RQIM) and Florida (Accredited Surety & Casualty Company) licenced insurers.  We have a full pipeline of opportunities across EU and US and I remain excited about this strategic development for the group."

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Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Tom Booth 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 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

 

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