R&Q URSL Announcement

3 January, 2012

Randall and Quilter Investment Holdings plc (R&Q) and Talbot Underwriting Holdings Ltd (Talbot) are pleased to announce the completion of the transfer of the Yacht and Marine Trades portfolio from Underwriting Risk Services Ltd (URSL), a subsidiary of Talbot, to R&Q Marine Services Ltd (RQMS), a subsidiary of R&Q. The date of the transfer is 1st January 2012 and involves:

• All associated Yacht and Marine trades staff; and
• R&Q taking on the run-off of existing policies.

URSL’s former Managing Director, Nicholas Hales, has taken up the position of CEO of R&Q MGA Ltd, also a subsidiary of R&Q, subject to Lloyd’s and FSA approval,. Nicholas will be responsible for R&Q’s Global MGA platform including RQMS.

URSL’s former Underwriting Director, Paul Miller, has taken up the position of Underwriting Director of RQMS.

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