Randall & Quilter Inv Hldgs Ltd R&Q writes facultative reinsurance certificate
June 30 2017 - 10:20AM
RNS Non-Regulatory
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
30 June 2017
Randall & Quilter Investment Holdings Ltd.
R&Q writes facultative reinsurance certificate to a large US
carrier
30 June 2017
Randall & Quilter Investment Holdings Ltd. ("R&Q") is
pleased to announce the issuance of a facultative reinsurance
certificate to a large US P&C carrier for a premium of $6.5m.
The collateralized reinsurance policy was written from a cell
within R&Q's wholly owned subsidiary, R&Q Quest Insurance
Limited, with encumbered assets of $8.5m.
The underlying liabilities covered by the reinsurance relate to
the deductibles of workers' compensation and auto liability
policies issued between 2007 and 2016 to a US corporate. This
policy allowed the carrier to commute the deductible coverage with
the corporate, therefore providing full finality to the corporate
while remaining fully collateralized.
Ken Randall, Chairman and Chief Executive Officer of R&Q,
explained "We are pleased to complete this facultative reinsurance
with a large US carrier. This transaction is yet another example of
R&Q's innovative structures which allowed the carrier to
provide full finality to its client through a partnership with
R&Q."
-Ends-
Enquiries to:
Randall & Quilter Investment www.rqih.com
Holdings Ltd.
Tom Booth Tel: +1 441 247
8330
Numis Securities Limited
Stuart Skinner (Nominated Tel: 020 7260
Adviser) 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
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 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;
-- employs 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 and manages a portfolio of insurance companies, both
active and in run-off, in the UK, US and Europe with net assets of
GBP161m as at 31 December 2016;
-- owns an admitted P&C Insurer, A- rated by AM Best, with
licenses throughout the US; owns a Bermuda Class 3A insurance
company;
-- launched Syndicate 1991, which commenced underwriting from
January 1, 2013 and has an agreed capacity of GBP127m for 2017,
manages one RITC ('run-off') syndicate, 3330, and owns and operates
an MGA platform;
-- acquires and manages a portfolio of insurance receivables,
with a carrying cost of GBP5.6m as at 31 December 2016
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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