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(Sharecast News) - Non-life speciality insurance company Randall & Quilter confirmed on Thursday that Ken Randall had now retired as executive chairman, with William Spiegel succeeding him in the role.
The AIM-traded firm Randall had also stepped down as a director.
"It is an immense honour to succeed Ken, who has been one of the world's leading insurance entrepreneurs for over 30 years," said William Spiegel.
"More importantly, he has been an important mentor and friend to me."
Ken Randall was leaving the company with a market value of almost £500m, more than 300 employees in nine offices globally, and what Spiegel described as "compelling propositions" in the legacy insurance and programme management markets.
Ken Randall said he had a "mixture" of pride in the business on his retirement, and "excitement" as a shareholder for its future.
"Having known him for many years, I have great confidence that William is the right person to lead the business forward.
"Not only does he share the entrepreneurial flair that is part of R&Q's DNA, but since joining he has demonstrated a clear ambition to further accelerate R&Q's growth across its two core businesses and beyond."
At 0857 BST, shares in Randall & Quilter Investment Holdings were down 1.37% at 170.13p.
30 May 2022 17:59
IN BRIEF: Randall & Quilter Investment rises on strong performance
Randall & Quilter Investment Holdings Ltd - Bermuda-based specialty non-life insurance company with Program Management and Legacy Insurance businesses - Says it continues to be "excited by the strong growth we are seeing in our Program Management business". For three months to March 31, reports gross written premiums of USD370 million, up sharply from USD193 million a year ago. Looking ahead, Randall & Quilter on track to deliver USD1.75 billion of gross written premium in 2022.
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