OUR BUSINESS
R&Q Insurance Holdings Ltd (R&Q) is listed on the London Stock Exchange’s Alternative Investment Market (AIM), and part of its 100 Index. It provides core services of legacy solutions and program management. The Group was founded by Ken Randall and Alan Quilter in 1991.
Legacy Insurance
Reserves Under Management
Program Management
Gross Written Premium
William Spiegel, Group Chief Executive Officer
Our people are core to what we do. R&Q operates in businesses that require specialist skillsets aligned to longstanding market relationships and we have a culture that aims to empower our people to be entrepreneurial and innovative.
R&Q is a global non-life specialty insurance company. We operate two core, highly complementary, businesses: Program Management and Legacy Insurance. Both these businesses are leaders in their respective markets.
Our approach is to deploy our origination and underwriting capabilities, alongside our licensed and rated carriers in the US, EU and the UK, to generate attractive returns in Legacy Insurance and Program Management on behalf of both our capital partners and ourselves.
Our Strategy
We have outlined an ambitious Five-Year Strategy to become a simpler, fee-orientated business. We will do this by:
- Increasing Fee Income by delivering high-quality and predictable profits in both Legacy Insurance and Program Management, while also leveraging our leading underwriting and origination capabilities to pursue the exciting growth opportunities we have identified for both businesses.
- Harnessing Data and Automating Processes to enhance our decision making and enable us to efficiently scale.
- Engaging Employees to build on our reputation for entrepreneurialism and help us attract the industry’s leading talent.
In Program Management we operate as R&Q Accredited, a leading program manager operating across the US and Europe. It is the only dedicated program partner to provide A- rated insurance capacity in each of the US, UK and Europe, including licenses to write admitted business in all 50 US states. R&Q’s US and EU-regulated (re)insurance companies act as conduits between MGAs and other niche underwriters and their capital providers, typically (re)insurers. Our platforms provide the authorised insurance paper that enables insurance entrepreneurs to develop and build their businesses in partnership with their capital providers. R&Q Accredited has grown significantly since inception, writing $1.8bn of GWP in 2022.
In Legacy Insurance, R&Q has a proven track record over three decades of providing capital solutions for books of non-life business. We have access to capital and the experience of managing legacy portfolios which enables us to free management and investors from the cost and constraints of handling discontinued business. We can do this on both sides of the Atlantic with our licenced platforms in the US, Bermuda and Europe. We aim to write a significant portion of the portfolios we acquire through Gibson Re, our reinsurance sidecar. This allows us to offer third party investors attractive and uncorrelated returns while supporting our growth through a capital lighter model.
Our Purpose
Our Purpose reflects the positive impact that we believe we can have on our customers and society.
We enable the success of our customers by delivering tailored, data-driven and innovative insurance solutions that provide protection and assurance in an uncertain world.
Our Values
Our Values describe our desired culture and give us all a compass for how we wish to work with each other and those we serve – all over the world.
Operate as One
We are one R&Q. We want great ideas to flourish. We are committed to collaborating across teams and geographies to deliver our best, while upholding our shared commitment to integrity.
Invest in People
We are passionate about investing energy, attention and capital into our relationships. This means that we help each other, our customers, and communities succeed today … and tomorrow.
Own the Next Step
We encourage accountability and transparency. We want to benefit from the insights and expertise of everyone at R&Q. We know we see the best results when we combine our expertise with empowerment, ownership and action.
Create Sustainable Value
We are committed to delivering value for our customers, partners, investors and each other. To address the needs of the industries we serve, we must be agile and sustainable. Our products and solutions set the standard for quality and innovation.
Company History
2023
RQLM Limited was dissolved
R&Q Insurance Management (IOM) Limited was renamed to R&Q Holdings (IOM) Limited
RQIH Limited was renamed to R&Q UK Holdings Limited
R&Q Theta DAC was dissolved
R&Q MGA Limited was dissolved
Randall & Quilter Captive Holdings Limited was dissolved
2022
Vibe Syndicate Management Limited was renamed R&Q Syndicate Management Limited
Oleum Insurance Company Limited merged into Distinguished Re Ltd.
Randall & Quilter Healthcare Holdings inc. was dissolved
R&Q Services Holding Inc. merged into Randall & Quilter America Holdings Inc.
Changed company name to R&Q Insurance Holdings Ltd
R&Q Quest Management Services (Cayman) Limited was dissolved
2021
Accredited Group Agency was dissolved
R&Q Insurance (Europe) Limited was merged into Accredited Insurance (Europe) Limited
R&Q RI Insurance Company was dissolved
R&Q Quest PCC, LLC was dissolved
Acquired Oleum Insurance Company Limited
R&Q Services Bermuda Limited was incorporated
Sold R&Q Epsilon Insurance Company SE
Marillac Insurance Company, Ltd. merged into R&Q Re (Cayman) Ltd.
RSI Solutions International, Inc. was dissolved
Acquired Vibe Syndicate Management Limited
Acquired Vibe Services Management Limited
Acquired Electric Insurance Limited Designated Activity Company
Sold R&Q Commercial Risk Services Limited to Stride Limited
R&Q Alpha Insurance Company SE and R&Q Beta Insurance Company SE merged with Accredited Insurance (Europe) Limited
NationsBuilders Insurance Company merged into ICDC, Ltd.
Sold R&Q Quest SAC Company Limited
Sold R&Q Quest Insurance Limited
2020
Acquired Mondi Reinsurance Ltd.
Acquired The World Marine & General Insurance P.L.C.
Acquired Inceptum Insurance Company Limited
Acquired Vibe Corporate Member Limited
Acquired Marillac Insurance Company, Ltd.
Randall & Quilter Canada Holdings Limited was dissolved
R&Q Risk Services Canada Limited was dissolved
Requiem America Inc. was dissolved
Syndicated Services Company, Inc. was dissolved
Sandell Re Ltd. was combined with Tradesman Program Managers, LLC
Acquired NationsBuilders Insurance Company
Acquired Citadel Assurance Company, Inc.
R&Q Insurance Management (Gibraltar) Limited was dissolved
Sold interest in Callidus Solutions Limited to Callidus Group Limited
FNF Title Company Limited was dissolved
Acquired ICI Insurance Company Limited
Acquired CMAL LLC
LBL Acquisitions, LLC was dissolved
Sold Trilogy Managing General Agents Limited to Resolution Underwriting Holdings Limited
Acquired Vigneron Insurance Company, Inc.
Randall & Quilter Bluebird Holdings Inc. was dissolved
2019
Acquired Distinguished Re Ltd.
Southern Illinois Land Company, Inc. was dissolved
Western Captive Company DAC was dissolved
Acquired Sandell Holdings Ltd along with its 100% owned subsidiary Sandell Re Ltd
Acquired GLOBAL U.S. Holdings, Incorporated
Acquired Western Captive Company DAC
Nationale-Nederlanden Internationale Schadeverzekering SE was acquired and changed its name to R&Q Epsilon Insurance Company SE
MPS Risk Solutions Limited was acquired by Accredited Insurance (Europe) Limited and was renamed to R&Q Eta Company Limited
2018
R&Q Capital No. 4 Limited was dissolved
R&Q Insurance (Malta) Limited was renamed to Accredited Insurance (Europe) Limited
R&Q KMS Management Limited was dissolved
R&Q CG Limited was dissolved
R&Q SIS Limited was dissolved
R&Q Secretaries Limited was dissolved
Prosight Specialty Underwriters Ltd was acquired and changed its name to R&Q Munro Services Company Limited
Prosight Specialty Managing Agency was acquired and changed its name to R&Q Munro MA Limited
Constantia Insurance Company (Guernsey) Limited was amalgamated into Capstan Insurance Company Limited and dissolved
R&Q Broker Services Limited was dissolved
Reinsurance Solutions Limited was dissolved
Octagon Insurance Group, Ltd was dissolved
R&Q Alpha Company Limited was redesignated as a PLC
R&Q Beta Company Limited was redesignated as a PLC
Sold A.M. Associates Insurance Services Ltd to Davies Group Limited
Sold R&Quiem Limited to Davies Group Limited
Sold JMD Specialist Insurance Services Group Limited to Davies Group Limited
Sold JMD Specialist Insurance Services Limited to Davies Group Limited
Sold JMD Market Services Limited to Davies Group Limited
Sold John Heath & Co to Davies Group Limited
Sold Randall & Quilter Bermuda Holdings Limited to Davies Group Limited
Sold R&Q Intermediaries (Bermuda) Limited to Davies Group Limited
Sold R&Q Quest Management Services Limited to Davies Group Limited
Sold R&Q Captive Management LLC to Davies Group Limited
R&Q Liquidity Management Limited was dissolved
R&Q Archive Services Limited was dissolved
R&Q CalSol Limited was dissolved
2017
Acquired Constantia Insurance Company (Guernsey) Limited
Acquired ProSight Specialty (ECUM) Limited
Acquired ProSight Specialty (TSMC) Limited
The Handling Norge Group was dissolved
Linco Limited was merged into Berda Developments Limited and dissolved
Acquisition of Wescap Company
Sold R&Q Managing Agency Limited to Coverys UK Holding Co Limited
Agreed terms on major Lloyd’s RITC with ProSight Specialty Insurance
Acquisition of Octagon Insurance Group, Ltd.
Acquisition of Linco Limited
Acquisition of ICDC, Ltd.
Merger of Armitage International Insurance Company, Ltd. into Berda Developments Limited, with Berda being the surviving entity
Acquired The Royal London General Insurance Company Limited
La Metropole Compagnie Belge d’Assurance SA was dissolved
Sold R&Q Triton AS
Acquired AstraZeneca Insurance Company Limited
2016
Acquired Clariant Insurance AG
Acquired Solicitors Mutual Defence Fund Limited and Solicitors Mutual Claims Services Limited
Acquired United States Sports Insurance Company, LLC
Acquired The Royal London General Insurance Company Limited
Acquired Agency Program Insurance Company (SAC), Limited
Rank Insurance Limited amalgamated into Capstan Insurance Limited
Acquired Rank Insurance Limited
Sold the Synergy portfolio to a subsidiary of Global Risk Partners Limited
2015
Part VII Transfer of the insurance business of Liverpool and London Steamship Protection and Indemnity Assurance Limited to R&Q Insurance (Malta) Limited
Acquired FNF Title Insurance Company Limited
Principle Insurance Company Limited dissolved following the Part VII transfer to R&Q Insurance (Malta) Limited
Amalgamated R&Q Insurance (Guernsey) Limited into Capstan Insurance Limited
Acquired the entire issued share capital of IC Insurance Limited from AstraZeneca UK Limited and Imperial Chemicals Industries Limited
Sold R&Q Marine Services Ltd to Hiscox Ltd.
Completed the portfolio transfer of Tryg Forsikring AS’s discontinued marine business to R&Q Insurance (Malta) Limited
Completed the portfolio transfer from Aker Insurance AS to R&Q Insurance (Malta) Limited
2014
Acquired Armitage International Insurance Company, Ltd.
Acquired Berda Development Limited
Acquired Oval Financial Services Limited
Acquired Pender Mutual Insurance Company Limited
Acquired Southern Illinois Land Company
Set up Randall & Quilter Healthcare Holdings Inc. and R&Q Healthcare Interests LLC (Delaware)
Acquired Accredited Holding Corporation (Florida)
Relocated Norwich office to city centre location
Migrated Syndicate 1897 to another managing agent on 1 April
Pre-emption of Syndicate 1991 capacity to £150m for the 2014 Year of Account
2013
R&Q Insurance (Malta) Limited authorised by MFSA
Part VII transfer of Chevanstell business into R&Q Insurance (Malta) Limited
Acquired Flagstone Alliance Insurance and Reinsurance Ltd. (‘FAIR’)
Acquired Woodcroft Insurance Company Limited (Guernsey) Captive
Redomiciled Head Office to Bermuda, 5 July
Novation of business from MPPA Insurance Ltd (Captive) Bermuda
Acquired La Réassurance Intercontinentale
Raised £24.1m of capital net of expenses, May
Acquired Hickson (IOM) Captive
Novation of business from SL Insurance (the Virgin Group’s Guernsey captive)
Launched Lloyd’s Syndicate 1991
2012
Acquired Trimac (Barbados) Captive
Acquired Northern Foods (Guernsey) Captive
Acquired RAB (Guernsey) Captive
Acquired Capstan (Guernsey) Captive
Acquired Linpac (Guernsey) Captive
Acquired Alma Insurance Finland
Set up Washington DC PCC
Acquired high net worth underwriting business – Synergy Insurance Services (UK) Limited
2011
New specialist underwriting business set up – R&Q Just Underwriting Limited – specialising in sport and leisure
New US captive management business set up – R&Q Quest Management Services USA LLC
Reduction of capital and share buyback programme
Worldwide entity re-organisation programme
Acquired Triton Management AS (Norway)
Set up Jersey PCC
Acquired Yacht and Marine Trades underwriting business from Talbot Underwriting
Acquired Principle Insurance Company Limited – a portfolio of Takaful motor insurance in run-off
2010
Acquired A.M. Associates Insurance Services Ltd.
Acquired JMD Specialist Insurance Services Limited
R&Q is “Turnkey” manager of syndicate 1897 for Skuld
Acquired La Licorne S.A. from MAAF Assurances S.A.
Acquired Callidus Consulting
Acquired John Heath & Company Inc. (US)
Opened R&Q Canada office
Acquired Excess & Treaty Management Corporation
Acquired Reinsurance Solutions Limited (UK)
Acquired Reinsurance Solutions LLC (US)
Acquired Caledonian Insurance Management Limited and subsidiary (Gibraltar)
2009
Acquired Woolworths Captive
Acquired Goldstreet Insurance Company from Sequa Corp & Columbia Insurance Company
2008
Acquired KMS Group of run-off service businesses
Acquired Quest Group of captive management companies in Bermuda
2007
IPO on London’s AIM market, raising c.£30m
2006
Acquired Brandywine group of run-off companies from Ace, now renamed R&Q Re (US), R&Q Re (UK) and R&Q Belgium
Acquired Chevanstell, the run-off of the former Tryg-Baltica International UK Ltd
Aquired Ancon UK (renamed Arran) from ExxonMobil
2004
Awarded Goshawk run-off at Lloyd’s
Acquired Transport Insurance Company from American Financial Group
2003
Formed Cavell Managing Agency Limited for run-off
Acquired Cavell Management Services Ltd, following expiration of 3 year non-compete
2000
Acquired La Metropole S.A., a Belgian regulated company in run-off
Sold Eastgate (then with 1500 employees and US $150m p.a. turnover) to Capita Group plc
Acquired US service operation from Eastgate
1996
Formed Dukes Place (Bermuda Fund) to acquire solvent insurance company in run-off
1995
Following substantial expansion, UK servicing business renamed ‘Eastgate’
1992
Acquired contract to manage Gooda Walker syndicates (in run-off)
Acquired Ludgate Insurance Company (Weavers Pool run-off) from MMI/St. Paul
1991
Group formation
