• Strategy
  • Innovation
  • Expertise

Issue of Subordinated Notes

20 January, 2017

The Board is pleased to announce the issue of $20 million of floating rate Subordinated Notes due December 2023 from R&Q Re (Bermuda) Ltd., the Group’s Class 3A Insurer. These Subordinated Notes are Tier 2 eligible capital and will increase R&Q Re Bermuda’s Statutory Capital and Surplus to help support the growth of this core Group insurance platform. As well as the continued support of the Group’s Lloyd’s syndicate participations, R&Q Re Bermuda is the key risk taking entity for the Group’s US legacy transactions, writing adverse development covers for the loss portfolio transfers and any other retrospective policies written by Accredited, the Group’s A- rated US admitted carrier.

R&Q Re Bermuda will also support a number of the legacy portfolios assumed through the acquisition and novation of captive programs in Bermuda, the US and elsewhere. Twelve Capital Group*, an investment manager specializing in insurance investments including private debt, acted as sole investor in the issue. The transaction marks Twelve Capital Group’s first transaction supporting a Bermudian insurance company issuing Tier 2 eligible capital. The broker was the Bermuda office of the Beach Group.

Ken Randall, Chairman and CEO of the Group, commented: ‘We are really pleased to have completed this issue of Tier 2 eligible capital out of R&Q Re (Bermuda) to help fund our fast growing legacy activity in the US and offshore US markets and to strengthen the balance sheet of this key Group insurance carrier’.

Click here for the full Press Release

Issue of Subordinated Notes

Latest News

Notice of Results
Notice of Results

Randall & Quilter Investment Holdings Ltd, (AIM-RQIH), the leading non-life global speciality insurance company focussing on Program Management and Legacy Insurance businesses, announces that it expects to publish its results for the year ended 31 December 2020 on the 24 …

William Spiegel succeeds Ken Randall as Executive Chairman
William Spiegel succeeds Ken Randall as Executive Chairman

Ken Randall retires 30 years after co-founding the Company. Randall & Quilter Investment Holdings Ltd, (AIM-RQIH) (“R&Q”), the leading non-life global speciality insurance company focussing on Program Management and Legacy Insurance businesses, today confirms that, further to the announcement made …

70 million senior unsecured floating rate notes due 2028 – passing of Written Resolution
70 million senior unsecured floating rate notes due 2028 – passing of Written Resolution

Notice of passing of a Written Resolution Randall & Quilter Investment Holdings Ltd. (the “Issuer”) announces that the written Noteholders’ resolution put to the Noteholders on 24 March 2021 (the “Resolution”) has been passed by the requisite majority. The Issuer …