Randall & Quilter Inv Hldgs Ltd R&Q completes two transactions
28 November 2018 - 6:01PM
RNS Non-Regulatory
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
28 November 2018
Randall & Quilter Investment Holdings Ltd.
28 November 2018
R&Q completes two transactions
Transaction from California self-insured
Randall & Quilter Investment Holdings Ltd. ("R&Q") is
pleased to announce the completion of a transaction to provide full
finality to a California based self-insurer by R&Q's wholly
owned subsidiary, Accredited Surety and Casualty Company, Inc.
("Accredited"). This is the second transaction with a self-insurer
in the state of California and the fifth across the U.S. over the
past 2 years.
Ken Randall, Chairman and Chief Executive Officer of R&Q,
explained: "We continue to provide solutions to the self-insurer
space and this transaction shows our ability to build upon previous
success and experiences with various states across the U.S."
Novation for Cayman based Group Captive
R&Q is also pleased to announce the completion of a novation
of the workers' compensation and commercial auto liabilities of a
Cayman based group captive that provided coverage to trucking
companies located throughout the US. The liabilities were novated
into R&Q's segregated account company in Bermuda. R&Q was
able to provide a solution to the captive that provided full
finality on its older insurance years. R&Q continues to remain
capable and enthusiastic to meet the captive market's growing
demand for exit solutions related to legacy liabilities.
Ken Randall, Chairman and Chief Executive Officer of R&Q,
explained "We are delighted to complete another novation with a
group captive. This transaction shows our continued focus on being
the go-to counter-party for exit solutions in the captive
market."
Ends
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 program 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
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END
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