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(Sharecast News) - Non-life insurance specialist Randall & Quilter updated the market on the performance of its programme management business for the first nine months of the year on Wednesday, reporting an 81% increase in gross written premiums to $714m.
The AIM-traded firm said its fee income was ahead 138% year-on-year at $39m, adding that at the end of the period it had a total of 70 programmes, which was a 31 programme increase on the same time last year.
Looking past the period, Randall & Quilter said that through to 30 November, five new programmes were added, bringing the total number to 75, and increasing contracted premium to more than $2bn.
"We are pleased to report another strong quarter of growth in our programme management business," said executive group chairman William Spiegel.
"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."
At 1102 GMT, shares in Randall & Quilter Investment Holdings were up 2.34% at 175p.
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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