REG - R&Q Insurance Hldgs - Q3 2022 Program Management Update

R&Q Insurance HoldingsAnnouncement

31/10/2022 07:00

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RNS Number : 5708E  R&Q Insurance Holdings Ltd  31 October 2022

 

R&Q Insurance Holdings Ltd

 

Q3 2022 Program Management Update

 

GWP grows by over 80% to $1.3 billion for the nine months ending 30 September
2022

 

31 October 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, announces a performance update for its Program
Management business for the nine months ending 30 September 2022.

 

Highlights

 

·      Gross Written Premium ('GWP') of $1.3 billion (9m 2021: $714
million), an 83% increase

 

·      Program Fee Income of $60 million (9m 2021: $30 million), a 100%
increase(1)

 

William Spiegel, Executive Group Chairman, commented:

 

"Our Program Management business exhibited strong year-over-year growth as we
continued to expand the depth and breadth of our MGA partnerships through the
first nine months of 2022. Our team continues to find new and unique ways to
meet the needs of our MGAs and reinsurance partners, as demonstrated in our
recently announced multi-year transaction with Inperio. Additionally, I am
pleased to report that our growth is broad-based with all three of our
platforms (US Admitted, US Non-Admitted, and Europe) growing GWP and Fee
Income. Looking forward, our pipeline of new MGA opportunities remains
strong."

 

Notes:

1.     Program Fee Income is on a written basis and excludes our share of
earnings from minority stakes in MGAs.

 

Ends

 

 Enquiries to:

 

R&Q Insurance Holdings Ltd
 William Spiegel                    Tel: 0207 780 5850
 Tom Solomon                        Tel: 0207 780 5850
 Alan
 Quilter
 Tel: 020 7780 5960

 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

 Anusuya Nayar Gupta                Tel: 020 7632 2322

 FTI Consulting

 Tom Blackwell                      Tel: 020 3727 1051

Enquiries to:

R&Q Insurance Holdings Ltd
 William Spiegel                    Tel: 0207 780 5850
 Tom Solomon                        Tel: 0207 780 5850
 Alan
 Quilter
 Tel: 020 7780 5960

 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

 Anusuya Nayar Gupta                Tel: 020 7632 2322

 FTI Consulting

 Tom Blackwell                      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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