TIDMRQIH

RNS Number : 3571I

Randall & Quilter Inv Hldgs Ltd

19 June 2017

Randall & Quilter Investment Holdings Ltd.

R&Q completes Loss Portfolio Transfer with Fortune 500 Insurance Group

19 June 2017

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce it has written a Loss Portfolio Transfer reinsurance contract to assume a Bonds portfolio issued by a Fortune 500 Insurance Group. The estimated undiscounted liabilities assumed are c. $46.5m. R&Q worked in conjunction with Guy Carpenter to successfully complete this transaction.

Ken Randall, Chairman and Chief Executive Officer of R&Q, commented:

"We are delighted to complete this LPT of surety business, a special focus of Accredited Surety & Casualty, our A- rated US admitted carrier. This transaction demonstrates our ongoing commitment to expand our legacy liability solutions to counterparties within the North American market."

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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June 19, 2017 02:00 ET (06:00 GMT)

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