Completion of acquisition

RNS Number : 5291M

Randall & Quilter Inv Hldgs Ltd

08 January 2019

 

Randall & Quilter Investment Holdings Ltd.

 Completion of R&Q's acquisition of MPS Risk Solutions Limited

8 January 2019

Further to its announcement on 19 September 2018, Randall & Quilter Investment Holdings Ltd. ('R&Q') is pleased to announce that its wholly owned European insurance company, Accredited Insurance (Europe) Limited has received regulatory approval to complete the acquisition of the entire issued share capital of MPS Risk Solutions Limited ('MPSRS') ('the Company') from its owners The Medical Protection Society Limited ('MPS'). The acquisition completed on 31 December 2018.  MPSRS was formed in January 2004 as a UK authorised insurer subsidiary of MPS.  It ceased active underwriting in October 2012.

Commenting on today's announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said: "We are delighted to have completed the acquisition of MPSRS. R&Q takes pride in assisting companies to dispose of companies in run-off and providing finality for the owners".

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Ken Randall Tel: [phone] Numis Securities Limited Stuart Skinner (Nominated Adviser) Tel: [phone] Charles Farquhar (Broker) Tel: [phone] Shore Capital Stockbrokers Limited Dru Danford / Stephane Auton Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

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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