Randall & Quilter Inv Hldgs Ltd R&Q appoints CEO for Legacy Insurance (9572M)
27 Septiembre 2021 - 12:59AM
UK Regulatory
TIDMRQIH
RNS Number : 9572M
Randall & Quilter Inv Hldgs Ltd
27 September 2021
Randall & Quilter Investment Holdings Ltd.
R&Q appoints CEO for Legacy Insurance
27 September 2021
Randall & Quilter Investment Holdings Ltd, (AIM-RQIH)
("R&Q"), the leading non-life global specialty insurance
company focusing on Program Management and Legacy Insurance
businesses, is pleased to announce the appointment of Andrew (Andy)
Pinkes as Global CEO of R&Q's Legacy Insurance business.
The appointment follows the recent announcement of Gibson Re, a
Bermuda-domiciled sidecar with $300 million of capital which will
allow R&Q to support $2 billion of legacy insurance reserves.
Andy will report into William Spiegel, Executive Chairman, and will
have the Legacy Insurance M&A and Operations teams reporting to
him. He will join R&Q on 1 October 2021.
Andy has over 30 years of experience in the insurance industry,
with extensive experience managing legacy and run-off portfolios.
He has served as Executive Vice President, Worldwide P&C Claims
and Property & Casualty Runoff for CNA, Global Head of Claims
for XL Group, Head of Claims and P&C run-off for the Hartford
and also held senior executive legal and claims roles at Travelers.
He is a Board director and advisor for a number of insurance,
insurance related and technology businesses. Andy has been a Senior
Advisor to the insurance practice of McKinsey & Company and a
member of the Board of Advisors for the RAND Institute for Civil
Justice.
William Spiegel , Executive Chairman of R&Q, commented: "I'm
delighted to announce Andy's appointment as our new Global CEO of
Legacy Insurance. In addition to proven expertise in managing
legacy insurance books, Andy also brings strong experience using
data and analytics to improve the management of claims, which is an
important pillar of our strategy for R&Q. We recently announced
the milestone launch of Gibson Re, which will support our ambitions
to build further scale in Legacy Insurance while transitioning it
into a recurring fee-based business. I look forward to having Andy
as our partner at R&Q and working closely with him."
Andy Pinkes said: "I've long admired R&Q and its position as
a leader in the legacy insurance space. With the recent launch of
Gibson Re, its offering is more relevant than ever. There exist
significant opportunities in the market, I am excited by R&Q's
ambitions to capitalize on these and look forward to working with
William and the R&Q team to help deliver on them for both
R&Q and its investors."
Ends
Enquiries to: Randall & Quilter Investment Holdings Ltd
William Spiegel Tel: +1 917-826-5877
Tom Solomon Tel: +1 917-597-8783
Numis Securities Limited (Nominated Advisor and Joint Broker)
Stuart Skinner Tel: 020 7260 1000
Charles Farquhar Tel: 020 7260 1000
Barclays Bank PLC (Joint Broker)
Mark Astaire Tel: 020 7632 2322
Milan Solanki Tel: 020 7632 2322
FTI Consulting
Tom Blackwell Tel: 020 3727 1051
Notes to Editors:
About R&Q
R&Q is a non-life global specialty insurance company
operating two core, highly complementary, businesses: Program
Management and Legacy Insurance. Both these businesses are leaders
in markets with high barriers to entry and significant growth
opportunities. Legacy Insurance generates profits and capital
extractions from expert management of legacy non-life insurance
portfolios. Legacy Insurance writes business on both behalf of
R&Q and third-party investors, via Gibson Re, and will
transition, over time, to a recurring fee based business. Program
Management generates commission income from its licensed (and
rated) carriers in the US, EU and the UK, writing niches and
profitable program business, largely on behalf of highly rated
reinsurers.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
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END
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September 27, 2021 01:59 ET (05:59 GMT)
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