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3 Dec 2019 07:00
Randall & 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".
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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
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