REG - R&Q Insurance Hldgs - Board Appointment

R&Q Insurance HoldingsAnnouncement

22/08/2022 07:00

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RNS Number : 6928W  R&Q Insurance Holdings Ltd  22 August 2022

R&Q Insurance Holdings Ltd

 

Board Appointment

 

22 August 2022

 

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 the appointment of Robert Legget
as Senior Independent Director. Robert will join the Board as of 26 August
2022.

 

Alastair Campbell, current Senior Independent Director, will remain an
Independent Director. He will retire as previously planned on 31 January 2023,
after nine years on the Board.

 

The appointment forms part of R&Q's ongoing, and previously announced,
plans to enhance its Board composition. The Board plans to introduce an
Independent Non-Executive Chairman as soon as possible with the appointment of
further Independent Directors in due course.

 

Robert Legget is Chairman of Progressive Value Management, a firm that focuses
on the creation of shareholder value, which he co-founded in 2000. Prior to
this, Robert was a Director, Corporate Finance, with Quayle Munro (now part of
Houlihan Lokey), the Edinburgh-based merchant bank. During his career he has
also held a number of senior finance and accounting roles. Robert is a
qualified chartered accountant and holds an MBA.

 

William Spiegel commented: "Robert's appointment will improve the mix of
opinion, expertise and perspective available to the Board. In particular, his
corporate governance experience and background in capital markets and advising
investors will be of significant value.

 

I would also like to thank Alastair whose wisdom and insight has been
invaluable to me and the Board. His considered and collaborative approach has
been critical in helping guide the Board over many years, and I am pleased he
will continue to make an important contribution until his well-earned
retirement in January."

 

Robert Legget said: "I look forward to working closely with William and his
fellow Board members to help support the delivery of the current strategy and
enable R&Q to achieve its potential."

 

-Ends-

 

Enquiries to:

R&Q Insurance Holdings Ltd.                 www.rqih.com
 William Spiegel                             Tel: 0207 780 5850

 Tom Solomon

 Fenchurch Advisory Partners LLP (Financial  Tel: 020 7382 2222
 Adviser)

 Kunal Gandhi

 Brendan Perkins

 Richard Locke

 Numis Securities Limited (Nominated Adviser & Broker)
 Charles Farquhar                            Tel: 020 7260 1000

 Giles Rolls

 Barclays Bank PLC Limited (Joint Broker)
 Nishant Amin                                Tel: 020 7632 2322

 Chris Madderson

 FTI Consulting

 Tom Blackwell                               Tel: 020 3727 1046

Notes to Editors:

 

About R&Q

 

R&Q is a non-life global specialty insurance company operating two highly
complementary businesses: Program Management and Legacy Insurance. Both of
these businesses are leaders in markets with high barriers to entry and
significant growth opportunities. Legacy Insurance generates profits and
capital extractions from expert management of legacy non-life insurance
portfolios. Program Management generates commission income from its licensed
(and rated) carriers in the US, EU and the UK, writing niche and profitable
program business, largely on behalf of highly rated reinsurers.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

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

 

In accordance with Schedule 2(g) of the AIM Rules:

In addition to the appointment to the Board, Robert William Lindsay Legget,
aged 72, holds or has held the following directorships in the past five years.

 

 Current directorships
 Downing Strategic Micro-Cap Investment Trust PLC
 Luffness New Golf Club Limited
 Progressive Asset Management Limited
 Progressive Value Management Limited
 Sureserve Group plc
 Trian Investors 1 Limited

 

Robert Legget was a director of Unisoft Ltd which appointed liquidators in
November 2001 for a creditors' voluntary liquidation and there was a shortfall
on an intercompany loan owed to Unisoft Ltd's parent company. The company was
dissolved in September 2004.

 

Robert Legget was a director of both Progressive AIM Realisation Limited and
Progressive Asset Management Limited within 12 months of the date on which
liquidators were appointed, being August 2016, for a members' voluntary
liquidation. The companies were dissolved in January 2019, there were no
creditor losses.

 

There is no further information disclosable in respect of Robert Legget
pursuant to Schedule 2(g) of the AIM rules for companies.

 

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