R&Q Insurance Holdings share price, company news, analysis and interviews

On 20 October 2023, R&Q Insurance Holdings Ltd (LON:RQIH) announced the proposed Sale of Accredited to Onex Corporation (the “Announcement”). Capitalised terms used, but not defined, in this announcement have the meaning given to such terms in the Announcement. The full announcement can be found here: https://www.rqih.com/news As explained in the Announcement, the transaction is conditional on R&Q shareholder and regulatory approval as well as customary consents from certain R&Q debt providers. R&Q continues to work expediently towards satisfying these conditions and closing of the Sale is expected to occur in late Q1 2024 or early Q2 2024. In the Announcement, R&Q provided a

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced that it has signed a Loss Portfolio Transfer (LPT) Reinsurance agreement with a UK motor insurer covering net reserve of c.US$80m. The transaction is subject to regulatory approvals and other conditions of closing. Huw Battrick, Co-Head of Legacy M&A at R&Q, commented: “We are pleased to announce this transaction for R&Q Legacy and work to put in place a reinsurance solution that supports our client with its ongoing business objectives”. Parri Spector, Co-Head of Legacy M&A at R&Q Insurance, added: “We are seeing increased interest in

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on the Program Management (“Accredited”) and Legacy Insurance (“R&Q Legacy”) businesses, today announced its results for the half year ended 30 June 2023. H1 2023 Financial Highlights Accredited ·      Gross Written Premium (“GWP”) of $1.1 billion (H1 2022: $0.8 billion, a 34% increase) ·      Fee Income of $46.2 million (H1 2022: $39.1 million, an 18% increase) ·      Pre-Tax Operating Profit of $28.6 million (H1 2022: $15.4 million, an 86% increase) ·      Pre-Tax Operating Profit Margin of 57.0% (H1 2022: 43.6%, a 13.4 percentage point increase) R&Q Legacy ·   Completed MSA Safety transaction involving

R&Q Insurance Holdings Ltd (LON:RQIH) has noted the press commentary regarding a potential sale of the Company’s Program Management business, Accredited. As previously announced, the R&Q Insurance Board has been undertaking a review of the strategic options for the Group, which has included the legal separation of Accredited and R&Q Legacy. The Board confirms that it is in an advanced stage of discussions with Onex Corporation regarding a potential sale of Accredited. If and when appropriate, a further announcement will be made.