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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
R&q Insurance Holdings Ltd | LSE:RQIH | London | Ordinary Share | BMG7371X1065 | ORD 2P (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.845 | 2.50 | 3.50 | 133,613 | 08:00:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Title Insurance | 82.8M | -297M | -0.7929 | -0.04 | 10.64M |
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
30 June 2017
Randall & Quilter Investment Holdings Ltd.
R&Q writes facultative reinsurance certificate to a large US carrier
30 June 2017
Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the issuance of a facultative reinsurance certificate to a large US P&C carrier for a premium of $6.5m. The collateralized reinsurance policy was written from a cell within R&Q's wholly owned subsidiary, R&Q Quest Insurance Limited, with encumbered assets of $8.5m.
The underlying liabilities covered by the reinsurance relate to the deductibles of workers' compensation and auto liability policies issued between 2007 and 2016 to a US corporate. This policy allowed the carrier to commute the deductible coverage with the corporate, therefore providing full finality to the corporate while remaining fully collateralized.
Ken Randall, Chairman and Chief Executive Officer of R&Q, explained "We are pleased to complete this facultative reinsurance with a large US carrier. This transaction is yet another example of R&Q's innovative structures which allowed the carrier to provide full finality to its client through a partnership with R&Q."
-Ends-
Enquiries to:
Randall & Quilter Investment www.rqih.com Holdings Ltd. Tom Booth Tel: +1 441 247 8330 Numis Securities Limited Stuart Skinner (Nominated Tel: 020 7260 Adviser) 1000 Charles Farquhar (Broker) Tel: 020 7260 1000 Shore Capital Stockbrokers Limited Dru Danford / Stephane Auton Tel: 020 7408 4090 FTI Consulting Edward Berry/Tom Blackwell Tel: 020 3727 1046
Notes to Editors:
About R&Q
Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.
R&Q is focused on the following three areas:
-- Insurance Investments -- Insurance Services -- Underwriting Management
The Group:
-- provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;
-- employs over 400 insurance professionals based in the UK, US, Bermuda, and Europe with wide service capability in both the 'live' and 'run-off' markets;
-- owns and manages a portfolio of insurance companies, both active and in run-off, in the UK, US and Europe with net assets of GBP161m as at 31 December 2016;
-- owns an admitted P&C Insurer, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company;
-- launched Syndicate 1991, which commenced underwriting from January 1, 2013 and has an agreed capacity of GBP127m for 2017, manages one RITC ('run-off') syndicate, 3330, and owns and operates an MGA platform;
-- acquires and manages a portfolio of insurance receivables, with a carrying cost of GBP5.6m as at 31 December 2016
The Group was founded by Ken Randall and Alan Quilter in 1991.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
June 30, 2017 11:20 ET (15:20 GMT)
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