RCS - R&Q Insurance Hldgs - Program Management Update

R&Q Insurance HoldingsAnnouncement

17/01/2023 07:00

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RNS Number : 9554M  R&Q Insurance Holdings Ltd  17 January 2023

 

R&Q Insurance Holdings Ltd

 

Program Management Update

 

Seven new programs added during December

 

17 January 2023

 

R&Q Insurance Holdings Ltd, (AIM-RQIH) ("R&Q"), the leading non-life
global specialty insurance company focusing on Program Management and Legacy
Insurance businesses, is pleased to announce an update for its Program
Management business.

 

R&Q Accredited approved partnerships with seven new programs in December
2022. These programs will begin writing business over the course of the first
quarter of 2023, with an anticipated total Gross Written Premium ('GWP') of
~$130 million over next 12-15 months.

 

The new programs include:

·    Expanding existing partnerships for Accredited America with three
new programs with Falvey Insurance Group and one with Southern Star MGA

·      New program partnerships for Accredited America with Platinum
Specialty Underwriters, LLC and Cover Whale

·      New program partnership for Accredited Europe with for broker
GmbH, its first MGA partner in Germany

 

William Spiegel, Executive Group Chairman, commented:

 

"Our Program Management business ended 2022 with a flurry of activity as we
approved and began onboarding a number of new programs. We continue focusing
on diversifying our business while also deepening our relationships with
existing partners. It is exciting to see our growth being delivered across our
three platforms (US Admitted, US Non-Admitted, and Europe) including our first
program partnership in Germany. In 2023 we will see continued growth from our
existing partners as well as the onboarding of further new MGAs. Our pipeline
remains strong and we believe we are well placed as a partner of choice for
leading MGAs in the US, UK and Europe."

 

R&Q expects to issue its full Q4 Program Update in February.

 

Ends

 

 Enquiries to:

 

R&Q Insurance Holdings Ltd
 William Spiegel                    Tel: 0207 780 5850
 Tom Solomon                        Tel: 0207 780 5850

 Numis Securities Limited (Nominated Advisor and Joint Broker)
 Giles Rolls                        Tel: 020 7260 1000
 Charles Farquhar                   Tel: 020 7260 1000

 Barclays Bank PLC (Joint Broker)

 Andrew Tusa                        Tel: 020 7632 2322

 Richard Bassingthwaighte

 FTI Consulting

 Tom Blackwell / Shipra Khanna      Tel: 020 3727 1051

Enquiries to:

R&Q Insurance Holdings Ltd
 William Spiegel                    Tel: 0207 780 5850
 Tom Solomon                        Tel: 0207 780 5850

 Numis Securities Limited (Nominated Advisor and Joint Broker)
 Giles Rolls                        Tel: 020 7260 1000
 Charles Farquhar                   Tel: 020 7260 1000

 Barclays Bank PLC (Joint Broker)

 Andrew Tusa                        Tel: 020 7632 2322

 Richard Bassingthwaighte

 FTI Consulting

 Tom Blackwell / Shipra Khanna      Tel: 020 3727 1051

 

 

 

Notes to Editors:

 

About R&Q

 

R&Q is a global non-life specialty insurance company. We operate two core,
highly complementary, businesses: Program Management and Legacy Insurance.
Both these businesses are leaders in their respective markets.

 

Our approach is to deploy our origination and underwriting capabilities,
alongside our licensed and rated carriers in the US, EU, and the UK, to
generate attractive fee returns in Program Management and Legacy Insurance.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

Website: www.rqih.com (http://www.rqih.com)

 

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