RCS - Randall & Quilter Ld - Accredited announces 5-year program deal

R&Q Insurance HoldingsAnnouncement

12/01/2022 07:00

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RNS Number : 1118Y  Randall & Quilter Inv Hldgs Ltd  12 January 2022

 

 

Randall & Quilter Investment Holdings Ltd.

 

R&Q Accredited announces 5-year program deal with First Underwriting

 

£1bn Gross Written Premium targeted over 5 years

 

12 January 2022

 

Randall & Quilter Investment 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 that
R&Q Accredited has signed a 5-year program management agreement with First
Underwriting, a fast-growing UK-based MGA.

 

The agreement will see R&Q Accredited and First Underwriting partner on a
5-year deal with targeted capacity of c. £1bn in gross written premium over
the period. The program will be supported by a panel of highly rated
reinsurers.

 

First Underwriting is a UK-based MGA that writes across a range of products
including specialist motor, property, casualty and bonds. R&Q Accredited
has supported First Underwriting since its launch in 2018.

 

Alan Quilter, R&Q Group CEO, said: "This is a significant agreement with
First Underwriting, with £1bn in gross written premium targeted over a
five-year period. Long-term partnerships will support our objective of
delivering sustainable and predictable growth in our program management
business and we aim to announce further agreements in 2022. This growth is
underpinned by our strong relationships with both MGA distributors and
highly-rated capacity providers, including reinsurers and ILS vehicles.
Furthermore, this deal also expands our existing relationship with First
Underwriting, highlighting our strategy of growing alongside MGAs we know well
and with proven track records.''

 

Ends

 

 Enquiries to:

 

Randall & Quilter Investment Holdings Ltd
 William Spiegel                                     Tel: +1 917-826-5877

 Alan Quilter                                        Tel: 020 7780 5960

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

 Giles Rolls

 Barclays Bank PLC (Joint Broker)

 Milan Solanki                                       Tel: 020 7632 2322

 Mark Astaire

 FTI Consulting

 Tom Blackwell                                       Tel: 07747 113 919
 Shipra Khanna                                       Tel: 07866 822 205

 

 

 

 

 

 

 

 

Notes to Editors:

 

About R&Q

 

R&Q is a non-life global specialty insurance company operating two core,
highly complementary, businesses: Program Management and Legacy Insurance.
Both these businesses are leaders in markets with high barriers to entry and
significant growth opportunities.

 

Accredited is R&Q's leading program manager operating across the US and
Europe. It is the only dedicated program partner to provide A- rated insurance
capacity in each of the US, UK and Europe, including licenses to write
admitted business in all 50 US states. Accredited has over 68 active programs
representing $1.8 billion of contracted premium. Accredited is a wholly owned
subsidiary of Randall & Quilter Investment Holdings Ltd. ("R&Q").

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

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

 

 

 

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