R&Q news - Reinsurance News (2024)

2nd January 2024

Non-life specialty insurance firm R&Q Insurance Holdings has confirmed that co-founder Alan Quilter retired and stood down from its Board of Directors on 31 December 2023.Back in March of 2023, R&Q revealed that Quilter, then Group Head of Program Management, would retire from R&Q and the Board of Directors ...Read the full article

22nd December 2023

R&Q Insurance Holdings said this morning that the Bermuda regulator has requested an independent actuarial review of its legacy reserves, its capital and its cash flow projections, which will put on hold any legacy transaction to Bermuda based R&Q Re, including a previously announced deal.R&Q said it has been in ...Read the full article

15th December 2023

In a unanimous decision, the Non-Executive Directors of non-life specialty insurer R&Q have recommended the separation of its business through a proposed sale.The directors assert that this move is in the best interests of R&Q, its shareholders, and other stakeholders.The proposed sale, which hinges on shareholder approval at a Special ...Read the full article

26th October 2023

Non-life specialty insurer R&Q Insurance Holdings has signed a Loss Portfolio Transfer (LPT) reinsurance agreement with a UK motor insurer covering net reserves of around $80 million.According to R&Q, 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 ...Read the full article

20th October 2023

Non-life specialty insurer R&Q Insurance Holdings has just confirmed that it has entered into a conditional agreement to sell its Accredited program Management business to private equity investment manager Onex Corporation.The sale was expected as R&Q had previously stated it was in advanced talks regarding a potential sale of ...Read the full article

Resilience expands cyber insurance coverage to £10 million

4th October 2023

Resilience, a leading cyber risk solution provider, has announced a significant expansion of its underwriting capacity to offer up to £10 million in cyber insurance coverage for clients across the United Kingdom and European Union.This capacity boost is the result of a strategic partnership with RSA Insurance and R&Q Accredited, ...Read the full article

29th September 2023

Despite seeing strong growth in its Accredited business in H1 of 2023, R&Q Insurance Holdings has reported a pre-tax operating loss of $58 million, primarily due to adverse reserve development in R&Q Legacy reserves of $40 million.R&Q noted that one of its strategic objectives for H1 was to grow Fee ...Read the full article

22nd September 2023

Global non-life specialty insurer R&Q Insurance Holdings has confirmed that it is now in advanced talks regarding a potential sale of its Accredited program Management business to private equity investment manager Onex Corporation.The news was reported last night and this morning R&Q has filed a stock exchange announcement confirming its ...Read the full article

25th August 2023

R&Q Insurance Holdings Ltd. and Obra Capital, Inc., have appointed Kevin Cooke as Chief Executive Officer of Mine Safety Appliances Company, LLC (MSAC).According to the announcement, in his role as CEO, Cooke will hold responsibility for the oversight and management of the company as well as leading the active pursuit ...Read the full article

17th July 2023

Global non-life specialty insurer R&Q Insurance Holdings Ltd, has announced the appointment of Jerome Lande as a Non-Executive Director with immediate effect.Lande is an experienced board member with over two decades of leadership experience as an investor. He currently serves as Managing Partner and Deputy CIO at Scopia Capital Management.In ...Read the full article

29th June 2023

Despite seeing strong growth in its Accredited business in 2022, R&Q Insurance Holdings has reported a pre-tax operating loss of $33.3 million, impacted by $32 million of adverse development and the transition to a fee-based revenue model at R&Q Legacy.R&Q's Accredited business saw Gross Written Premiums of $1.8 billion in ...Read the full article

AM Best recognizes Accredited as an Independent Rating Unit, maintains A- Financial Rating

27th June 2023

Global non-life specialty insurer R&Q Insurance Holdings Ltd. has announced that AM Best has recognized Accredited as an independent ratings unit, distinct from R&Q.AM Best has maintained the Financial Strength Rating of A- (Excellent) of Accredited Specialty Insurance Company (ASI), Accredited Surety and Casualty Company, Inc. (ASC) and Accredited Insurance ...Read the full article

12th June 2023

R&Q Insurance Holdings is raising up to $60 million in new equity through a preferred arrangement with one of its shareholders Scopia Capital Management, while also having announced the completion of an internal separation of its its Program Management business, Accredited, and its Legacy Insurance business.R&Q has actually confirmed raising ...Read the full article

6th April 2023

The announcement from non-life specialty insurer R&Q Insurance Holdings earlier this week that its Board is conducting a strategic review to separate its program management and legacy businesses, has seen AM Best place the credit ratings of the firm and its rated subsidiaries under review with negative implications.On April ...Read the full article

4th April 2023

Global non-life specialty insurer R&Q Insurance Holdings has announced that its board is reviewing strategic options to separate its Program Management business, Accredited, and its Legacy Insurance business.R&Q states that its Program Management business, Accredited, has grown significantly over the past three years, achieving record GWP and Fee Income (excluding ...Read the full article