Completion of Novation

RNS Number : 4529E
Randall & Quilter Inv Hldgs Ltd
04 November 2015
 

Randall & Quilter Investment Holdings Ltd.

R&Q completes novation from a Dublin based Captive Insurer

4 November 2015

R&Q Insurance (Malta) Limited. ("R&Q") is pleased to announce the acceptance of the novation of liability contracts from a Dublin based captive.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained: "We are delighted to complete this novation.  This deal continues to show our market leading position in providing captive exit solutions using our European consolidator subsidiary in Malta."

-Ends-

 

 

Enquiries to:

 

Randall & Quilter Investment Holdings Ltd.

www.rqih.com

Tom Booth

 

Tel: +1 441 247 8330



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

 

About R&Q

 

Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.

 

R&Q is focused on the following three core areas:

 

·      Insurance Investments

·      Insurance Services

·      Underwriting Management

 

The Group:

·      provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;

 

·      has a team of over 400 insurance professionals based in the UK, US, Bermuda, and Europe with wide service capability in both the 'live' and 'run-off' markets;

 

·      owns a US admitted carrier, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company which currently supports the Group's syndicate participations;

 

·      launched Syndicate 1991 which commenced underwriting from January 1, 2013 with a capacity of £150m for 2015, manages one RITC ('run-off') syndicate, 3330, and owns and operates 2 MGA business units;

 

·      acquires and manages a portfolio of insurance receivables, with a carrying cost of £10.6m as at 31 December 2014, of which R&Q holds a 50% interest 

 

The Group was founded by Ken Randall and Alan Quilter in 1991.

 

Website: www.rqih.com

 


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