RQIH.L Regulatory News (RQIH)

Randall & Quilter Investment Holdings plc

Acquisition

21 December 2012

Randall & Quilter Investment Holdings plc ('R&Q' or the 'Group') is pleased to announce that it has completed the acquisition of the entire issued share capital of LINPAC Insurance Company Limited ("LICL"), a Guernsey domiciled captive insurer, from the owner LINPAC Finance Limited.

LICL has been in run-off since 2006 and wrote business from 1994, including Employers' Liability, Public and Products Liability, Workers Comp., US/Canada General Liability and Motor. Reserves were c. £171k as at 30 June 2012, the date of the latest available management accounts. The consideration, payable by Randall & Quilter in cash from existing resources is £450k.

Commenting on today's announcement, Ken Randall, Chairman and Chief Executive Officer of Randall & Quilter, said:

"The purchase of LICL further evidences the increasing level of acquisition activity we are seeing as a Group. It also continues to demonstrate our ability to provide attractive exit solutions for captive owners who have put their captives in run-off or are contemplating ceasing writing new business. This will be our fifth captive acquisition in 2012 and our fourth in Guernsey this year."

- ends -

Enquiries to:

FTI Consulting

Edward Berry \ Tom Blackwell

Tel: 020 7269 7297 \ 7222

Notes to Editors:

Randall & Quilter

Since formation, Randall & Quilter has pursued a buy and build strategy to create a comprehensive range of investment activities and services in the global non-life insurance market and is focused on the following four core areas:

- Insurance Investments;

- Insurance Services;

- Underwriting Management; and

- Captives.

The Group currently:

- has a team of up to 400 insurance professionals based in the UK, USA, Bermuda, and Continental Europe with wide service capability in both the 'live' and 'run-off' market;

- has a portfolio of 10 insurance companies in run-off (from the UK, US and Continental Europe) with net assets of c.£85.5m as at 31 December 2011;

- provides 'turnkey' management services to Lloyd's syndicate 1897, manages two RITC ('run-off') syndicates and owns and operates 5 MGAs;

- acquires and manages a portfolio of insurance receivables, with a carrying cost of c. £8.2m as at 31 December 2011;

- has launched, via R&Q Managing Agency Limited, the Lloyd's subsidiary of R&Q, Syndicate 1991 to commence underwriting from January 1, 2013, Capacity is £77m for 2013;

The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Chief Operating Officer.