REG - Randall & Quilter Ld - Q3 Program Management Update

R&Q Insurance HoldingsAnnouncement

08/12/2021 07:00

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RNS Number : 8930U  Randall & Quilter Inv Hldgs Ltd  08 December 2021

 

 

Randall & Quilter Investment Holdings Ltd.

 

Q3 Program Management Update

 

GWP grows by over 80% to $714 million for the first nine months of 2021

 

8 December 2021

 

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, announces a performance update for
its Program Management business for the first nine months of the year, ending
30 September 2021.

 

Highlights

 

·      Gross Written Premium ('GWP') of $714 million (Q3 2020: $395
million), an 81% increase

 

·      Fee Income of $39 million (Q3 2020: $16 million), a 138% increase

 

·      70 programs (Q3 2020: 39 programs), a 31 program increase

 

Post period-end developments

 

·      Through 30 November 2021, five new programs were added, bringing
the total number of programs to 75, and increasing Contracted Premium to over
$2 billion

 

William Spiegel, Executive Group Chairman, commented: "We are pleased to
report another strong quarter of growth in our Program Management business.
Our pipeline of opportunities remains robust, and we remain focused on
developing strategic partnerships with leading MGAs, highly-rated reinsurers
and the ILS markets in both Europe and the US."

 

Notes:

1.     Fee Income represents Program Fee Revenue and our share of earnings
from minority stakes in MGAs.

2.     Contracted Premium is the Gross Written Premium that our
distribution partners believe their programs will generate over an annual
period. We expect a significant portion of Contracted Premium to become Gross
Written Premium.

 

Ends

 

 Enquiries to:

 

Randall & Quilter Investment Holdings Ltd
 William Spiegel                                Tel: +1 917-826-5877
 Tom Solomon                                    Tel: +1 917-597-8783
 Alan
 Quilter
 Tel: 020 7780 5960

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

 Barclays Bank PLC (Joint Broker)

 Mark Astaire                                   Tel: 020 7632 2322

 Milan Solanki                                  Tel: 020 7632 2322

 FTI Consulting

 Tom Blackwell                                  Tel: 020 3727 1051

Enquiries to:

Randall & Quilter Investment Holdings Ltd
 William Spiegel                                Tel: +1 917-826-5877
 Tom Solomon                                    Tel: +1 917-597-8783
 Alan
 Quilter
 Tel: 020 7780 5960

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

 Barclays Bank PLC (Joint Broker)

 Mark Astaire                                   Tel: 020 7632 2322

 Milan Solanki                                  Tel: 020 7632 2322

 FTI Consulting

 Tom Blackwell                                  Tel: 020 3727 1051

 

 

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. 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 profitable program
business, largely on behalf of highly rated reinsurers.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

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

 

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