22 April, 2014
The Board of Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, service provider and underwriting manager, is pleased to announce the Group’s final results for the year ended 31 December 2013.
* After deduction of Minority Interests relating to Syndicate 3330
** After restatement relating to Alma prior year goodwill adjustment
*** Distribution to be approved in a General Meeting to be held shortly
Commenting on the results, Ken Randall, Chairman and Chief Executive Officer of the Group said:
”The Group has delivered a solid result during 2013 which was in line with management expectations despite the impact of slow premium development on its active managed syndicates and a weaker result than originally anticipated in its Underwriting Management Division. As reported at the half year stage, a further profit of £1.5m in respect of Alma Insurance has been reallocated as a prior year adjustment as required by international accounting standards, showing the solid performance in 2013 in a less favourable light.
“We look forward to the future with confidence. Our strong legacy and servicing pipelines continue to offer prospects for profitable development, including in the short term. We have a strong presence in the market for legacy insurance assets although the exact timing of such acquisitions is always difficult to predict. While it has taken longer than planned to build our live underwriting platform, we remain confident that the overall strategy provides a firm foundation for strong, sustainable growth in the future.”
London-listed Randall & Quilter Investment Holdings Ltd. (“R&Q”) has successfully raised £107mn ($140.4mn) in a major equity fund raise to support its expansion in the legacy and program underwriting markets. R&Q raised the funds – which equate to around 40 …
On 5 March 2019 Michael Smith (through his self-invested personal pension), a non-executive director of the Company, acquired 15,000 shares in the Company at the rate of GBP 153p per share, through his participation in the Company’s Placing and Open …
The Board of Randall & Quilter Investment Holdings Ltd. (the “Company”), the Bermuda based global program underwriting management and legacy acquisitions specialist, today held the General Meeting referred to in the notice to shareholders of the Company dated 8 February …