Randall & Quilter Inv Hldgs Ltd Adverse Development Cover
09 March 2018 - 8:45PM
RNS Non-Regulatory
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
09 March 2018
Randall & Quilter Investment Holdings Ltd.
R&Q writes Adverse Development Cover to a Risk Retention
Group
9 March 2018
Randall & Quilter Investment Holdings Ltd. ("R&Q") is
pleased to announce the issuance of adverse development reinsurance
covering medical professional liability and general liability
risks. This coverage was written by R&Q's wholly owned A-
admitted carrier, Accredited Surety and Casualty Company, Inc.
("Accredited") for the benefit of a U.S. domiciled Risk Retention
Group ("RRG") and provides $70m of coverage to protect the RRG from
downside risk on their legacy insurance program.
Ken Randall, Chairman and Chief Executive Officer of R&Q,
explained "This transaction adds to the continued development of
exit solutions to risk retention groups within the U.S. We are
excited to expand our capabilities using Accredited Surety and
Casualty Company, Inc. to assist in solving various issues that
arise on legacy liabilities for RRG's, self-insurers, and
corporates within the U.S."
Accredited is a wholly owned subsidiary of the R&Q Group.
Forty-five years old and headquartered in Florida, Accredited is an
AM Best A- (excellent) rated insurance company that is licensed in
all fifty states to write admitted business.
Ends
Enquiries to:
Randall & Quilter Investment Holdings www.rqih.com
Ltd.
Ken Randall Tel: 020 7780 5945
Numis Securities Limited
Stuart Skinner (Nominated Adviser) Tel: 020 7260 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 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
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