R&Q enjoys strong growth in first quarter

Bermuda business Randall & Quilter Investment Holdings, the non-life global specialty insurer focused on Program Management and Legacy Insurance, has issued an update for its Program Management business for the first three months of the year ending 31 March 2022.

The business wrote gross written premiums of $370 million, compared with $193 million in the same period a year earlier, a 92% increase. Its Program Fee Income reached $18 million, a 125% increase on the same quarter in 2021 generated by 76 programs, an increase of seven programs.

The company also highlighted some of the strategic partnerships it has established including a five-year agreement signed with First Underwriting targeting £1 billion GWP and a six-year agreement signed with Policy Expert targeting £2 billion GWP.

William Spiegel (pictured), Executive Group Chairman, commented: “We continue to be excited by the strong growth we are seeing in our Program Management business, and I am pleased to report another excellent quarter.

“We have established ourselves as a leading player in both the US and Europe and this is reflected in the long-term partnerships we have been able to sign with highly regarded managing general agents (MGAs), including two multi-year agreements targeting combined premium in excess of £3 billion. As we recently updated, Program Management remains on track to deliver $1.75 billion of gross written premium in 2022.”