22 November, 2013
Randall & Quilter (‘R&Q’) is pleased to announce that it has been selected as the preferred provider of credit control services by the Lloyd’s Market Association (‘LMA’) Working Group, following a competitive bidding process.
R&Q, through its wholly owned subsidiary, JMD Specialist Insurance Services Limited (‘JMD’), currently provides credit control to more than 40% of the Lloyd’s market and manages 2,500 binding authorities.
Credit control has become increasingly important to the Lloyd’s market and R&Q’s ability to provide a range of specialist solutions enables it to provide significant cost savings and efficiency benefits for Managing Agents.
John Dewen, Chairman of JMD, commented: “We are extremely pleased to have been selected by the LMA Working Group as the preferred provider of credit control services. There is an opportunity to address a number of issues that are impeding efficiency, performance and creating additional costs for Managing Agents and Brokers.
Our aim, in conjunction with our clients, is to deliver an enhanced performance, improve profitability whilst also delivering the economies of scale that can be achieved from a shared service. We believe our transparent approach to cost and delivery of service is unique and will be well received by our current and future clients.”
Further to the Company’s announcement on 13 January 2020 (RNS number 5159Z), the Company hereby provides the attached notification, made in accordance with the requirements of the EU Market Abuse Regulation.
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