TIDMRQIH

RNS Number : 6860C

Randall & Quilter Inv Hldgs Ltd

24 January 2018

Randall & Quilter Investment Holdings Ltd.

R&Q completes assumption from a Risk Retention Group

24 January 2018

Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the assumption of auto liabilities from a Connecticut domiciled risk retention group ("RRG") to R&Q's wholly owned A- admitted carrier, Accredited Surety and Casualty Company, Inc.

The Connecticut risk retention group, with estimated reserves of circa $1.6m, wrote auto liability policies in California during 2015. This transaction, through Accredited, provided full finality to the RRG for the auto liabilities assumed, which now enables the entity to wind up.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained: "We are very pleased to announce our first assumption with a risk retention group was completed prior to year end. This transaction is evidence of our unique ability to provide finality solutions to U.S. self-insurers through the use of Accredited and is an area which we are looking to expand in 2018."

Ends

Enquiries to:

 
  Randall & Quilter Investment   www.rqih.com 
    Holdings Ltd. 
   Ken Randall                    Tel: 020 7780 
                                   5945 
 
    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

The overall mission of the Bermuda based Group is to:

-- Generate profits and capital extractions from expert management of legacy on-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

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January 24, 2018 02:00 ET (07:00 GMT)

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