Last checked at 1 Feb 2013 07:00
Randall & Quilter Investment Holdings plc
Trading Update
1 February 2013
The Board of Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, service provider and underwriting manager, announces that it expects that the Group's pre-tax result for the year ending 31 December 2012, to be in line with current market expectations.
The Board remains confident in the positive outlook for the Group during 2013.
The Group's preliminary results will be announced on 25 April 2013.
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Enquiries to:
Randall & Quilter Investment Holdings PLC www.rqih.com
Tom Booth Tel: 020 7780 5850
Numis Securities Limited
Stuart Skinner (Nominated Adviser) Tel: 020 7260 1000
Charles Farquhar (Broker) Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
Dru Danford/Stephane Auton Tel: 020 7408 4090
FTI Consulting
Neil Doyle/Edward Berry Tel: 020 7269 7237 / 7297
Notes to Editors:
R&Q
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 three core areas:
- Insurance Investments;
- Underwriting Management;
- Insurance Services & Captive Management
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 11 insurance companies in run-off (from the UK, US and Continental Europe) with net assets of c.£85.9m as at 30 June 2012;
- has launched Syndicate 1991 which commenced underwriting from January 1, 2013 with a Capacity of £77m for 2013, provides 'turnkey' management services to Lloyd's syndicate 1897, manages two RITC ('run-off') syndicates and owns and operates 3 MGAs;
- acquires and manages a portfolio of insurance receivables, with a carrying cost of c.£8.1m as at 30 June 2012;
The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Chief Operating Officer.