MODERN SLAVERY STATEMENT
2021 Statement on Modern Slavery and Human Trafficking
Randall & Quilter Investment Holdings Ltd.
Randall & Quilter Investment Holdings Ltd. and its subsidiary businesses (the “Group” or “R&Q”) is a diverse insurance group, headquartered and operating in Bermuda with extensive operations in the UK, USA, and Europe. The Group is a leading provider of finality solutions for run-off portfolios and global programme capacity for Managing General Agents and their reinsurers. The R&Q team consists of 287 insurance professionals of whom:
- 162 are in the UK
- 103 are in the USA
- 11 are in Europe
- 11 are in Bermuda
Randall & Quilter Investment Holdings Ltd. is listed on the UK AIM market.
The Group operates within a regulated environment across the UK, Europe, USA, Bermuda, and India and does not have any complex supply chains or obtain goods/services or material services from vendors with a high risk of slavery or human trafficking. Based on its knowledge of its vendors and the fact that it is operating in the strongly regulated area of insurance, the Group believes that the risk to the Group of modern slavery or human trafficking is low.
To ensure that the Group is continuously adapting we have applied a structured approach to review existing vendors and will adopt this approach for any new vendor which we contract with, subject to reviews at least on an annual basis. The Group continues to embrace its commitment to a zero-tolerance approach to modern slavery and human trafficking.
R&Q has complied with legal and regulatory requirements everywhere it conducts business and embedded the values in its Code of Ethics in its activities. The Code continues to affirm the Group’s commitment to compliance with equal employment opportunity laws and other applicable civil rights, human rights and employment and labour laws. R&Q expects staff to behave ethically and transparently and to be accountable for their actions.
During the year, R&Q’s policies, frameworks, and actions continued, with the aim to prevent modern slavery and human trafficking in its business and supply lines, and included:
- employment verification checks as part of the Group’s hiring process
- requiring agencies who supply workers to carry out employment verification checks, where relevant.
- vendor due diligence using detailed questionnaires including a new vendor form and sanctions checking procedures
- subjecting key business transactions to both onboarding and periodic regulatory screening
- providing regular training for staff on sanctions restrictions, anti-bribery, anti-money laundering, whistleblowing, and modern slavery and anti-trafficking legislation
- providing ongoing training and support for all staff on how and where they can raise concerns about wrongdoing and assurances that they will not suffer reprisals for doing so.
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes the Group’s slavery and human trafficking statement for the financial year ending 31 December 2021. This statement has been approved by the Randall & Quilter Investment Holdings Ltd. board of directors, who will review and update it annually.