REG - Randall & Quilter Ld - Board Update
RNS Number : 4064VRandall & Quilter Inv Hldgs Ltd03 December 2019Randall & Quilter Investment Holdings Ltd.
("R&Q", the "Group" or the "Company")
Board Update
3 December 2019
The Company today announces that Mark Langridge will be stepping down as a Director of the Company with effect from 13 December 2019. Mr Langridge will continue in an executive role advising on claims and reinsurance matters for legacy companies within the Group on a part time basis and will continue as a Director of a number of Group subsidiary companies for the foreseeable future.
As a consequence of Mark's new role, the senior management team of the legacy division will now report directly to Roger Sellek, Joint Group CEO. As announced on 2 October 2019 the legacy management team was recently strengthened by the recruitment of Mike Walker as Chief Restructuring Officer.
Ken Randall, Chairman, said: "I am grateful to Mark for his years of valuable contribution to the development of the Group and especially for his leadership of our legacy business. He has a deep understanding of the particular challenges involved in managing claims exposures and related reinsurance protections arising from long tail casualty business and I am therefore very pleased that he has agreed to continue working with us on a part time basis going forward".
-Ends-
Randall & Quilter Investment Holdings Ltd.
Ken Randall
Tel: 020 7780 5945
Numis Securities Limited (Nominated Adviser)
Stuart Skinner
Tel: 020 7260 1000
Charles Farquhar
Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
Stephane Auton
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 program 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 RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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.ENDBOALLFVDFDLFIIA
Recent news on R&Q Insurance Holdings
See all newsREG - R&Q Insurance Hldgs - Update on proposed sale of Accredited
AnnouncementREG - R&Q Insurance Hldgs - Appointment of Non-Executive Directors
AnnouncementREG - R&Q Insurance Hldgs - Update on Trading and Sale of Accredited
AnnouncementREG - R&Q Insurance Hldgs - TR-1: Notification of major holdings
AnnouncementREG - R&Q Insurance Hldgs - Comment on recent press speculation
Announcement