TIDMRQIH

RNS Number : 8830Y

Randall & Quilter Inv Hldgs Ltd

11 December 2017

Randall & Quilter Investment Holdings Ltd.

R&Q Insurance (Malta) announces delegated underwriting agreements

1 December 2017

R&Q Insurance (Malta) Limited ("RQIM") is pleased to announce that it has entered into delegated underwriting agreements with both Xpekt Limited ("Xpekt") and Blagrove Underwriting Agency Limited ("Blagrove").

Xpekt is a UK motor MGA specialising in rural private and commercial vehicles, motorcycles and specialist vehicles with anticipated annualized GWP of GBP15.6m whilst Blagrove specialises in UK fleet with expected annualized GWP of GBP11.6m. These programmes are in addition to the UK motor book being written with Eridge Underwriting Agency Ltd and the Irish motor book with Footprint Underwriting DAC.

Ken Randall, Chairman and CEO of the R&Q Group commented "We are delighted to have entered into these programmes with support provided by highly rated reinsurers. As has been previously announced, the Group is simplifying its strategy to focus on its core legacy acquisition activity and revenue generation through writing programme business from our Maltese (RQIM) and Florida (Accredited Surety & Casualty Company) licenced insurers. We have a full pipeline of opportunities across EU and US and I remain excited about this strategic development for the group."

Ends

Enquiries to:

 
  Randall & Quilter Investment Holdings   www.rqih.com 
    Ltd. 
   Tom Booth                               Tel: +1 441 247 8330 
 
    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 programme 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

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The company news service from the London Stock Exchange

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December 11, 2017 02:00 ET (07:00 GMT)

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