Randall & Quilter records strong growth in first nine months
Bermuda-headquartered Randall & Quilter Investment Holdings has seen gross written premiums up 81% in the first three quarters of 2021.
The non-life legacy business reports a GWP of $715m for the nine months to the end of September, up from $395m over the same period last year. Fee income more than doubled from $16m to $39m over the same period.
At the end of September, it ran 70 programs, up from 39 programs a year ago, and it has since added five more, increasing the contracted premium to $2 billion.
William Spiegel, executive group chairman, said: “We are pleased to report another strong quarter of growth in our Program Management business. Our pipeline of opportunities remains robust, and we remain focused on developing strategic partnerships with leading MGAs, highly-rated reinsurers and the ILS markets in both Europe and the US.”
As well as Bermuda, Randall & Quilter has operations in the US and Europe and is listed on the London Stock Exchange’s Alternative Investment Market (AIM) 100 Index. As well as managing run-off business, it also provides program management services, with R&Q’s US and EU-regulated re/insurance companies acting as conduits between MGAs and other niche underwriters and their capital providers, typically (re)insurers.
