R&Q Insurance Holdings Ltd Appointment of Non-Executive Chairman (8341U)
31 March 2023 - 5:00PM
UK Regulatory
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RNS Number : 8341U
R&Q Insurance Holdings Ltd
31 March 2023
R&Q Insurance Holdings Ltd
Appointment of Non-Executive Chairman
31 March 2023
R&Q Insurance Holdings Ltd, (AIM-RQIH) ("R&Q"), the
leading non-life global specialty insurance company focusing on
Program Management and Legacy Insurance businesses, is pleased to
announce the appointment of Jeffrey (Jeff) Hayman as Non-Executive
Chairman of R&Q, with immediate effect.
Jeff's extensive industry experience makes him well placed to
lead the Board as Non-Executive Chairman. He has spent nearly 40
years in the insurance industry with long tenures at The Travelers
and American International Group, including as CEO of Global
Consumer Insurance and President & CEO of AIU Far East
Holdings. In addition, Jeff was recently a Board member and
committee chair of Zurich Insurance Group Ltd.
Following Jeff's appointment, William Spiegel will assume the
role of Group CEO and Alan Quilter, R&Q's current CEO, will
work exclusively with the Program Management teams in the US and
UK/Europe before retiring at the end of December 2023.
William Spiegel , Group Chief Executive Officer, commented:
"As we announced last year, we started a search for a
Non-Executive Chairman in order to have a governance structure that
is more aligned with best market practice. In Jeff Hayman we have
identified an outstanding candidate given his highly relevant
experience that includes Board roles in the US, Europe and Asia,
and executive and leadership roles with AIG and Travelers. I am
excited to work closely with Jeff and look forward to his
contributions to the Board.
As a co-founder, Alan has been instrumental in the growth,
evolution and success of R&Q over the last 30 years. Most
recently, he has played an important role in the expansion and
development of our leading Program Management business. On a
personal level, I have greatly valued Alan's partnership,
collaboration and experience. I am delighted he will remain with us
for the remainder of 2023, ensuring a smooth transition before his
very well-deserved retirement."
-
Regulatory disclosure - The following information is disclosed
in accordance with Rule 17 and paragraph (g) of Schedule 2 of the
AIM Rules for Companies.
Jeffrey Lawrence Hayman, 63, holds nil ordinary shares in the
Company and nil options. Jeffrey Hayman's current and previous
directorships/partnerships are as follows:
Current Directorships/Partnerships:
Hungry Minds Inc
Food Bank of South Jersey
Lakeview Timbers LLC
Former Directorships/Partnerships held in last 5 years:
Zurich Insurance Group Ltd
Zurich Insurance Company Ltd
Lakeview Acquisition Corporation
Save for the disclosures above, there are no further disclosures
to be made in accordance with Rule 17 and Schedule 2(g) of the AIM
Rules.
-Ends-
Enquiries to: R&Q Insurance Holdings Ltd
William Spiegel Tel: 0207 780 5850
Tom Solomon Tel: 0207 780 5850
Numis Securities Limited (Nominated Advisor and Joint Broker)
Giles Rolls Tel: 020 7260 1000
Charles Farquhar Tel: 020 7260 1000
Barclays Bank PLC (Joint Broker)
Andrew Tusa Tel: 020 7632 2322
Richard Bassingthwaighte
FTI Consulting
Tom Blackwell / Shipra Khanna Tel: 020 3727 1051
Notes to Editors:
About R&Q
R&Q is a global non-life specialty insurance company. We
operate two core businesses: Program Management and Legacy
Insurance. Both these businesses are leaders in their respective
markets.
Our approach is to deploy our origination and underwriting
capabilities, alongside our licensed and rated carriers in the US,
EU, and the UK, to generate attractive fee returns in Program
Management and Legacy Insurance.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
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END
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