R&q Insurance Share Discussion Threads

[simon gordon] 25/5/2022 12:54

Forever,

That is from a telly programme in the 1970s called Randall & Hopkirk (Deceased). About a pair of private detectives, the one in white is dead and a ghost, he's got a bereaved wife which adds a twist to the love interest.

See here:

[foreverbull] 25/5/2022 12:29

Is that Ken Randall and Alan Quilter?

[fred177] 25/5/2022 12:28

Painful but sold out today, I cant see how these can recover

[1tx] 25/5/2022 12:22

Phew!Thank goodness I sold out in April.I held this stock many years and loved the big twice a year capital distribution but these ceased and PIs were cut out of discounted share issues & marginalised,I was becoming less keen on the shares.As I did n't hold the shares in tax shelter(I think it did not qualify for an ISA at the time of purchase) I decided to use a large part of this years CG allowance.I thought the takeover complex & gave up 20p+ extra profit.I did not expect this horror story.

[simon gordon] 25/5/2022 12:20

If the Legacy balance sheet is blowing up more deeply it could well be Randall & Quilter (Deceased).

[superadams] 25/5/2022 11:42

What was that 5% stake yesterday all about I wonder in light of what's happened since.

[simon gordon] 25/5/2022 11:42

Bollers,

The troubling aspect of Brickell pulling out is that they own 23% of the company. If in their due diligence they've found reason for sinking the deal then they could think that a haircut on their 23% is better value than going all in.

[simon gordon] 25/5/2022 11:14

I've sold the shares I bought in recent days.

Brickell pulling out like this leaves a massive void.

Why were shareholders not told of this letter at 7am on Tuesday, why drop the RNS at 8.04am today?

It looked like things were being lined up to get the vote through yesterday with the GLG and Accredited announcements.

Too much uncertainty for me.

[bollers] 25/5/2022 09:32

I don't know enough about the situation here, but in the past, companies have failed when the offeror pulls out at the last minute. The offeror is then in a great position, having studied the customer base, accounts etc to pick up the pieces for nothing.

[afilip] 25/5/2022 09:20

I'm always bewildered when investors vote against an acquisition and scream it's worth much more, only for it to go to zero afterwards. Happened with Lear in 2007, shareholders rejected Icahn's bid even after it was increased, company went bankrupt within two years.

[simon gordon] 25/5/2022 09:02

This is a conundrum.

-

Reinsurance News - 25/5/22:

R&Q says 777 Partners backed Brickell pulling out of acquisition

[3800] 25/5/2022 08:54

Don't understand, Brickell wants to kill its own investment??
looks like Slater doe's too
hard to see a happy ending here
let's hope "something turns up"

[afilip] 25/5/2022 08:36

Don't understand, Brickell wants to kill its own investment??

[fred177] 25/5/2022 08:26

Not looking good if Brickell are looking to pull out, also looking for a further delay ?

[simon gordon] 24/5/2022 15:47

GLG in with a 5% position.

In for the arb?

That would swing it.

[simon gordon] 24/5/2022 15:40

The Insurer - 25/3/22:

Aon’s Bennett forecasts further growth of $60bn+ US MGA market

The $60bn-plus US MGA market will maintain its current growth trajectory for the foreseeable future with the sector buoyed by underwriting talent being drawn to the prospect of better remuneration and broader industry pricing that remains on the rise, Aon’s Doug Bennett has told Program Manager.

Continued....



-----

Accredited probably has the potential to do $5bn+ GWP in the coming years with Brickell's capital support to write such a level of capacity. The future profit potential is mouth watering.

If they can't get it over line tomorrow without Slater could they come back with a higher bid to get hold of all that GWP potential in Accredited. $5bn at 5% = $250m at 80% margin = $200m pre tax profit.

[simon gordon] 24/5/2022 15:25

The Insurer - 24/5/22:

Accredited Europe inks multi-year £2bn GWP partnership with UK MGA Policy Expert

Randall & Quilter (R&Q)’s European program management arm Accredited Europe has unveiled a six-year agreement with expansive home and motor insurance MGA Policy Expert as it targets £2bn in gross written premium (GWP) over the period.

[jeff h] 24/5/2022 13:11

3800 - I wrote to them Friday to ask for it to be added to the II mailbox, it appeared in my mailbox today, maybe mail them using the secured message facility, they are often quick in replying.

[simon gordon] 24/5/2022 12:52

William Spiegel in Zurich today, wonder if he's met Mark Slater face to face now he's in Europe?

From Linkedin:

William Spiegel of Randall & Quilter Investment Holdings Ltd. kicking off the inaugural European MGA Forum 2022 in Zurich

[3800] 24/5/2022 11:39

it's not in my voting mailbox with ii jeff

[jeff h] 24/5/2022 11:12

Interactive Investor have their voting mailbox facility up and running allowing shareholders to vote their intentions to the adjourned Special General Meeting takeover resolutions.

PI votes are probably too small to affect the outcome but with a none vote counting as a vote against and the existing proxy votes already close to the 75% of the voting shares entitled to vote required to pass the resolutions they could perhaps be enough to swing the vote result.

[red ninja] 21/5/2022 18:13

Well I think the funds will determine the result and it seems to me Brickell will probably win, but either way not long to wait.

[fred177] 21/5/2022 17:59

Red Ninja seems like he's holding a few cards here either way ? What does that mean for retail holders?