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.”
Watch the latest Program Manager virtual panel debate brought to you by The Insurer’s newly launched video platform The Insurer TV and Accredited Europe by clicking on the following link: Program Manager virtual panel debate | Watch now on The …
In accordance with the exchange conditions of the subscription made by Brickell Insurance Holding LLC (“Brickell”) in April 2020, R&Q is pleased to announce the completion of the share exchange and the allotment of shares to Brickell in exchange for …
Randall & Quilter Investment Holdings Ltd. (“Randall & Quilter”) today announces the appointment of Barclays Bank PLC (“Barclays”) as its joint corporate broker with immediate effect. Barclays will work alongside Randall & Quilter’s existing corporate broker and nominated adviser, Numis …