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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| R&q Insurance Holdings Ltd | RQIH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.075 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.075 | 0.075 |
| Industry Sector |
|---|
| NONLIFE INSURANCE |
| Top Posts |
|---|
Posted at 19/6/2024 06:15 by tomboyb offload assets and nothing left here -RQIH were telling you in previous RNS they would do this - |
Posted at 13/6/2024 16:19 by simon gordon Has been since the new Non-Execs, who specialise in liquidation/restructBrandyWine has turned into a poison. - 19 April 2024 R&Q Insurance Holdings Ltd (AIM-RQIH) ("R&Q" or the "Group") announces the appointments to the Board of Stephen Welch and Lawrence Hirsh as Non-Executive Directors, effective from 18 April 2024. Stephen Welch has worked for financial sponsors and investors in both executive and non-executive roles. He has extensive experience managing complex corporate issues, including several restructuring situations of regulated financial services and insurance businesses. Stephen is also a Non-Executive Director of Telegraph Media Group Limited, The Spectator (1828) Limited and the Primary Group Limited. Stephen was a partner at McGrathNicol and a Senior Managing Director at FTI Consulting, and is a Chartered Accountant. Lawrence Hirsh has acted as an independent board member and advisor to a number of companies, providing financial and operational services. Lawrence was previously a Managing Director for Alvarez & Marsal, leading its Southeastern US Corporate Restructuring Practice, and a Partner at Arthur Andersen LLP. As both an advisor and during his career, Lawrence has a track-record of helping drive operational improvements and cost reduction programs. |
Posted at 13/6/2024 07:10 by sbb1x #RQIH RNS out - looks like liquidation unfortunately |
Posted at 10/5/2024 16:35 by simon gordon Hi Bagpuss,Brickell (777) made a bid at 175p which was rejected by Slater and Phoenix. Somewhat weird that they are going into a restructuring around the same time as RQIH. Brickell owned c.25% of RQIH at one stage. |
Posted at 29/9/2023 15:48 by petomi Indeed the legacy business is a mess. Ironic that about a year ago Phoenix requisitioned a meeting to reinstate Ken Randall who as I recall was the architect of the original legacy business which has harboured so many problemsI haven't looked at the results in detail but the Accredited PM business looks to be doing well so let's hope there's value to be unlocked there. Presumably that's why the price has recovered well today after the initial sharp markdown GLA |
Posted at 04/3/2023 07:48 by red ninja It mainly happened last year (ie 2022) October 17 - 18th.Phoenix dropped almost 8% and Scopia went to 7.95%. The recent Scopia buying took them over the 8%. Thus it is a misleading RNS they have in reality gone from 7.95% -> 8.01% See 18th October 2022 RNS :- |
Posted at 01/2/2023 08:19 by edmonda As well as the first acquisition by R&Q's new JV with OBRA Capital that shows the significant potential for other similar deals, @RQIH won 7 new programs in December.Equity Development's fair value is now 155p/share, as you can read in a new research note freely accessible here: |
Posted at 06/1/2023 12:23 by red ninja RQIH alive and kicking and involved in legacy product liability claims relating to coal dust, asbestos, silica, and other exposures. I hope they have calculated the claims correctly given the problems they have had before with asbestos. :-R&Q Insurance Holdings Ltd. ("R&Q") and Obra Capital, Inc. ("Obra") are pleased to announce that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated ("MSA Safety"). The acquired subsidiary (the "Company") holds legacy product liability claims relating to coal dust, asbestos, silica, and other exposures. MSA Safety contributed approximately $341 million in cash to the Company, in addition to related insurance assets, and the joint venture contributed $35 million. As a result of the transaction, R&Q will provide claims and management services and Obra (recently rebranded from Vida Capital) will provide investment management services to the Company. The transaction has enabled MSA Safety to remove all legacy cumulative trauma product liability reserves, related insurance assets, and associated deferred tax assets of the divested subsidiary from its balance sheet. As the transaction concerns non-insurance legacy liabilities, it will not be ceded to Gibson Re. The structure of the joint venture and the related exposures in this transaction result in reduced counterparty credit risk for R&Q, and therefore means that the fees will be lower than those earned from Gibson Re. William Spiegel, R&Q's Executive Chairman said: "We are pleased to form a joint venture with Obra to acquire and professionally manage these legacy liabilities, providing MSA Safety with a complete finality solution. This is an exciting transaction for R&Q, showcasing the capabilities, reputation and innovation of our Legacy Insurance business. This will see our reserves and non-insurance liabilities under management increase to over $1 billion, comprising two pools: traditional insurance reserves via Gibson Re, and non-insurance legacy liabilities. This furthers our strategy of becoming a leading manager of legacy liabilities and reflects our ability to execute transactions that match different legacy liabilities with the right form of capital." Andrew Pinkes, R&Q's Chief Executive Officer of Legacy Insurance said: "While we have been providing Legacy Insurance solutions to insurers, reinsurers and corporate captives for decades, this transaction opens up a new growth avenue in providing similar services for non-insurance, corporate liabilities. This transaction is a strong demonstration of R&Q's expertise in underwriting and managing long-tailed liabilities, as well as our innovative approach to structuring and delivering comprehensive finality solutions." |
Posted at 12/12/2022 16:36 by simon gordon Archy,I was confident before Brandywine and Brickell. That was a lucky escape. I had 408,000 and had I held on I'd be down 408K. I was very relieved to get out at 162p on the Brickell news for a 78.7K loss. I then tried to trade it before the takeover vote and lost 15K on that trade when Brickell pulled their offer. You never know what can come from left field and wreck a business. A contract goes wrong, look at TRB who've screwed up a big contract and the share has halved. MJH, which I went into after RQIH, today had it shares suspended because the CFO has been cooking the books, I got in at 37p and out at 27p and was glad, if I'd held I be sitting tonight thinking I might lose it all. The CFO helped build Hastings Insurance, he wasn't a mickey mouse character but holders could be looking at a wipe out. Directors were buying shares and it was supposedly trading ahead of expectations and the ESG business was booming. Getting hit on RQIH and MJH are probably my two worst trades I've ever experienced. 200K loss. Fortunately, I got a chunk of it back on Lettuce Truss's gilt meltdown. It's not impossible that the balance sheet blows up again and you lose it all in RQIH. Don't bet the farm, unless you are ready to lose it all. This is a gamble, as is trading the markets! Xx |
Posted at 07/12/2022 17:29 by simon gordon Back of the envelope calculations:2023 Profit after tax = £34.1m divided by 378m shares = 9p EPS at 60p = 6.7x P/E 2024 Profit after tax = £66.6m divided by 378m shares = 17.6p EPS at 60p = 3.4x P/E -If they pay out 25% of 17.6p = 4.4p at 60p = 7.3% yield. -If they paid out 50% of 17.6p = 8.8p at 60p = 14.7% yield. Edison have a 6.8p dividend forecast for 2024 = 11.3% yield at 60p. *Figures worked from Edison note of 18/8/22 with Cable at $1.23 and 10% Bermudian tax rate. ~Post edited to change share count from 392m to 378m. |
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