RCS - Randall & Quilter Ld - Loss Portfolio Transfer

R&Q Insurance HoldingsAnnouncement

29/12/2020 07:00

RNS Number : 8522J
  
Randall & Quilter Inv Hldgs Ltd
  
29 December 2020
  
 

 
 
 
Randall & Quilter Investment Holdings Ltd.
 
Loss Portfolio Transfer
 
29 December 2020
 
Randall & Quilter Investment Holdings Ltd. ("R&Q") is pleased to announce the completion of a loss portfolio transfer from Pacific Pioneer Insurance Company (PPIC) to R&Q's wholly owned A- (IX) rated carrier, Accredited Surety and Casualty Company ("Accredited"). This reinsurance transaction was part of a larger transaction which helped facilitate the successful sale of PPIC to a third party. 
 
Paul Corver, Group Head of M&A at R&Q explained "We are thrilled to have been able to provide an exit solution to our client's legacy liabilities and help facilitate its successful sale. This deal demonstrates the value loss portfolio transfers may provide in the context of evaluating and executing strategic disposals or acquisitions. We are pleased that R&Q continues to be a market of choice for such transactions and thank Guy Carpenter for their assistance throughout the transaction."
 
 
 
Ends



 

Enquiries to:



 



Randall & Quilter Investment Holdings Ltd. 


www.rqih.com 




Paul Corver


Tel: 020 7780 5944




 
Numis Securities Limited 




Stuart Skinner (Nominated Adviser) 


Tel: 020 7260 1000 




Charles Farquhar (Broker) 


Tel: 020 7260 1000 




 
Shore Capital Stockbrokers Limited 




Stephane Auton/James Thomas 
 


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
 
 
Website: www.rqih.com
 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
NRAFEIFFLESSEEE