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9 August 2022

R&Q Insurance sees H1 gross written premium rise 82%

R&Q Insurance Holdings, a non-life global specialty insurance company focusing on programme management and legacy insurance businesses, has posted an 82% year-on-year increase in gross written premium for the six months to 30 June 2022 to $807 million.

Its program fee income jumped by 105% to $39 million from 75 programmes, which was an increase of six programmes.

The company continued to expand its managing general agent (MGA) network and partnerships in the period, with two new programmes approved, and it agreed to add $100 million to its existing partnership with Corvus Insurance. It hosted inaugural European and US MGA forums with hundreds of attendees and leading MGAs from the US, UK, and Europe, it added.

William Spiegel, executive group chairman, said: “Our Program Management business produced another very strong period of growth in the first half of 2022. All three of our platforms (US Admitted, US Non-Admitted, and Europe) grew GWP and Fee Income relative to the year-ago period. Our pipeline of additional MGA partnerships and growth opportunities remains robust as our R&Q Accredited franchise continues to grow its reputation with both MGAs and reinsurers as a leading place to do business. This is reflected in the additional number of scale partnerships we have signed in the first half of 2022.

“Since the end of the first quarter, we also held inaugural MGA forums in the US and Europe where our Program Management partners met, exchanged ideas, heard from industry experts, and forged new business opportunities. This is just one of the ways in which we are building a differentiated proposition relative to peers.

“Additionally, despite rising interest rates and volatile financial markets, we note that our investment portfolio is well positioned with our assets significantly shorter in duration than our liabilities and over 95% comprising liquid, investment grade fixed income securities and cash. Our portfolio has not experienced any credit impairments.”




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21 July 2022   The move adds $100 million to the previous investment.

More on this story

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21 July 2022   The move adds $100 million to the previous investment.