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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.025 | 0.83% | 3.025 | 2.80 | 3.25 | 2.98 | 2.98 | 2.98 | 1,603,547 | 16:35:22 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Title Insurance | 82.8M | -297M | -0.7929 | -0.04 | 11.16M |
From Apr 2019 to Apr 2024
TIDMRQIH
RNS Number : 2043F
Randall & Quilter Inv Hldgs Ltd
19 February 2018
Randall & Quilter Investment Holdings Ltd.
Completion of Reinsurance to Close of Syndicate 3334
15 February 2018
On 20 December 2017 Randall & Quilter (R&Q) announced it had reached agreement with Hamilton Underwriting Limited (Hamilton) to provide capital, in conjunction with AXA DBIO, to support the Reinsurance to Close (RITC) of Syndicate 3334's 2014 and prior years of account.
We are now pleased to announce that all of the necessary approvals have been obtained and the transaction has completed, with an inception date of 1(st) January 2018.
As previously announced, the RITC has been written by Syndicate 3330, managed by Coverys Managing Agency and consists of net reserves of circa GBP30m.
Commenting on the transaction, Ken Randall, Chairman and CEO of R&Q said: "We are pleased to have concluded this RITC with Hamilton in respect of the run-off of their legacy Sportscover business. We continue to build on our relationship with Coverys Managing Agency and are delighted to have a strong partner in AXA Liabilities Managers. We look forward to completing further Lloyd's legacy transactions in the future, building on the recent success here."
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Randall & Quilter Investment Holdings
Ltd.
Ken Randall Tel: 020 7780 5945
Numis Securities Limited (Nominated Adviser)
Stuart Skinner Tel: 020 7260 1000
Charles Farquhar 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
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
Website: www.rqih.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGUPGPUPRPUR
(END) Dow Jones Newswires
February 19, 2018 02:00 ET (07:00 GMT)
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