Randall & Quilter Inv Hldgs Ltd R&Q appoints Chief Restructuring Officer
October 02 2019 - 1:00AM
RNS Non-Regulatory
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
02 October 2019
Randall & Quilter Investment Holdings Ltd.
2 October 2019
R&Q appoints Mike Walker from KPMG as Chief Restructuring
Officer
Randall & Quilter Investments Holdings Ltd ("R&Q"), the
non-life legacy insurance investor and capacity provider of US and
European program business is pleased to announce the appointment of
Mike Walker, former partner at KPMG.
A newly created senior executive role, Mike Walker will be
responsible for optimising the structures of R&Q's acquired
discontinued business assets.
The new position comes at a time when R&Q is enjoying
success in executing on its strategy of acquiring larger legacy
(re)insurance portfolios where there are opportunities for
releasing excess capital.
Mike Walker joins R&Q from KPMG where he was a Partner for
over 15 years and occupied a number of senior roles, most recently
as Global Head of Insurance Restructuring. In that capacity, he has
been involved in some of the largest insurance restructurings in
the UK and internationally and has also worked extensively on
providing advice to companies with discontinued insurance business,
dealing with all aspects of operations including transition to run
off, strategic reviews and assessing finality options. He has also
been involved in a number of business transfers and has been
responsible for the restructuring - through the scheme of
arrangement process - of over 150 companies and run off
portfolios.
Ken Randall R&Q Executive Chairman, commented "We are
delighted that Mike is joining R&Q's senior management team.
The recent completion of our Global Re transaction - the largest
acquisition in R&Q's history - demonstrates that we are
enjoying success in delivering on our strategy of acquiring larger
legacy portfolios. As a consequence, Mike's restructuring
experience will be of great value to the firm in optimising the
structures of our acquisition portfolio".
Mike Walker added: "I have known R&Q since its formation in
1991 and have great admiration for Ken Randall, Alan Quilter and
their colleagues.
"After 30+ years at KPMG, I am delighted to be joining R&Q
and am looking forward to managing the firm's acquired discontinued
business assets".
Mike Walker joins R&Q on 7 October.
Ends
Randall & Quilter Investment Holdings
Ltd.
Ken Randall Tel: 020 7780 5945
Numis Securities Limited (Nominated Adviser)
Stuart Skinner Tel: 020 7260 1000
Charles Farquhar Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
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 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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END
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