R&Q Insurance Holdings Ltd Appointment of Non-Executive Chairman (8341U)

TIDMRQIH

RNS Number : 8341U

R&Q Insurance Holdings Ltd

31 March 2023

R&Q Insurance Holdings Ltd

Appointment of Non-Executive Chairman

31 March 2023

R&Q Insurance Holdings Ltd, (AIM-RQIH) ("R&Q"), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce the appointment of Jeffrey (Jeff) Hayman as Non-Executive Chairman of R&Q, with immediate effect.

Jeff's extensive industry experience makes him well placed to lead the Board as Non-Executive Chairman. He has spent nearly 40 years in the insurance industry with long tenures at The Travelers and American International Group, including as CEO of Global Consumer Insurance and President & CEO of AIU Far East Holdings. In addition, Jeff was recently a Board member and committee chair of Zurich Insurance Group Ltd.

Following Jeff's appointment, William Spiegel will assume the role of Group CEO and Alan Quilter, R&Q's current CEO, will work exclusively with the Program Management teams in the US and UK/Europe before retiring at the end of December 2023.

William Spiegel , Group Chief Executive Officer, commented:

"As we announced last year, we started a search for a Non-Executive Chairman in order to have a governance structure that is more aligned with best market practice. In Jeff Hayman we have identified an outstanding candidate given his highly relevant experience that includes Board roles in the US, Europe and Asia, and executive and leadership roles with AIG and Travelers. I am excited to work closely with Jeff and look forward to his contributions to the Board.

As a co-founder, Alan has been instrumental in the growth, evolution and success of R&Q over the last 30 years. Most recently, he has played an important role in the expansion and development of our leading Program Management business. On a personal level, I have greatly valued Alan's partnership, collaboration and experience. I am delighted he will remain with us for the remainder of 2023, ensuring a smooth transition before his very well-deserved retirement."

-

Regulatory disclosure - The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Jeffrey Lawrence Hayman, 63, holds nil ordinary shares in the Company and nil options. Jeffrey Hayman's current and previous directorships/partnerships are as follows:

Current Directorships/Partnerships:

Hungry Minds Inc

Food Bank of South Jersey

Lakeview Timbers LLC

Former Directorships/Partnerships held in last 5 years:

Zurich Insurance Group Ltd

Zurich Insurance Company Ltd

Lakeview Acquisition Corporation

Save for the disclosures above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.

-Ends-

 
 
 Enquiries to: R&Q Insurance Holdings Ltd 
   William Spiegel                           Tel: [phone] 
   Tom Solomon                               Tel: [phone] 
 
    Numis Securities Limited (Nominated Advisor and Joint Broker) 
   Giles Rolls                               Tel: [phone] 
   Charles Farquhar                          Tel: [phone] 
 
    Barclays Bank PLC (Joint Broker) 
    Andrew Tusa                               Tel: [phone] 
    Richard Bassingthwaighte 
 
   FTI Consulting 
    Tom Blackwell / Shipra Khanna             Tel: [phone] 
 
 

Notes to Editors:

About R&Q

R&Q is a global non-life specialty insurance company. We operate two core businesses: Program Management and Legacy Insurance. Both these businesses are leaders in their respective markets.

Our approach is to deploy our origination and underwriting capabilities, alongside our licensed and rated carriers in the US, EU, and the UK, to generate attractive fee returns in Program Management and Legacy Insurance.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

BOADZGFFKGFGFZM

(END) Dow Jones Newswires

March 31, 2023 02:00 ET (06:00 GMT)