R&Q programme management business adds ten new partners in the first six months of 2020
Randall & Quilter Investment Holdings added ten new programmes in its programme management business in the six months ended 30 June 2020, bringing the total number of active programmes it manages to 36.
R&Q also reported gross written premium of $247.2 million for the first half of 2020, in a six month performance update for its programme management business. That constituted a 43 percent increase on the $172.9 million reported in the first half of 2019.
Alan Quilter, group chief executive officer, said the programme management business continued to grow strongly. “This business has significant built-in growth through the 36 existing programs and 34 different distribution partners with whom we have secured contracts as of the end of Q2 2020,” he said.
He noted that R&Q added four new programmes since the end of Q2, while the business also expects to enter the US excess and surplus programme management market in Q4 2020.
“The four new programmes we signed post the half year are expected to generate in excess of $200 million of annual recurring gross written premium when they achieve scale over the next 18 months,” Quilter said.
He pointed to strong demand from new origination partners going forward, with insurers facing capital challenges relating to the magnitude of insured losses relating to COVID-19.
