Reinsurance News
Randall & Quilter
Liquidation risk for R&Q as Accredited sale discussions continue with Onex
13th June 2024
As R&Q continues progress discussions regarding the sale of Accredited, buyer Onex has proposed an alternative transaction structure to that of the original sale that could be implemented in the event that the original closing conditions were not able to be satisfied. Back in October 2023, the non-life specialty insurer announced ... Read the full article
R&Q continues to evaluate options for its Legacy Insurance business
4th March 2024
Global non-life specialty insurer R&Q Insurance Holdings Ltd (R&Q) has confirmed it is still exploring different strategic options for its Legacy Insurance business. However, it anticipates finalising the sale of its Accredited business by the end of the second quarter of 2024. In April 2023, R&Q's Board announced plans to explore ... Read the full article
R&Q shareholders approve sale of Accredited
11th January 2024
At a special general meeting held earlier today, R&Q Insurance Holdings Ltd.'s shareholders approved the sale of the company's program management business, Accredited, which is expected to close in the first half of 2024. The global non-life specialty insurer confirmed in September 2023 that it was in advanced talks regarding ... Read the full article
R&Q subjected to BMA review of legacy business, halting transactions
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
R&Q agrees Accredited sale to Onex at $465m enterprise value
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
R&Q confirms in advanced talks over sale of Accredited business to Onex
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
R&Q raising up to $60m in equity, completes separation of program / legacy
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
AM Best places ratings of R&Q and subsidiaries under review as Board considers strategic options
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
R&Q and Obra Capital form new JV to acquire MSA Safety’s legacy liabilities
6th January 2023
R&Q Insurance Holdings Ltd. and Obra Capital, Inc., the recently rebranded Vida Capital, have invested in a new joint venture to acquire a wholly owned subsidiary of global safety equipment manufacturer, MSA Safety Incorporated. In connection with the closing of the deal, MSA Safety contributed roughly $341 million in cash to the ... Read the full article
70% vote against removal of William Spiegel at R&Q special meeting
13th September 2022
The results of R&Q Insurance Holdings Ltd.'s Special General Meeting have been announced by the firm, with approximately 70% of total votes cast being against the removal of William Spiegel as a Director of the non-life specialty insurer. R&Q revealed plans to hold a special meeting on August 24th, calling ... Read the full article
R&Q falls to $137m loss for H1
5th September 2022
Bermuda based insurer R&Q Insurance Holdings Ltd has reported an overall loss of $136.7 million from operations before income taxes across its business segments during the first six months of 2022, following large investment losses caused by volatile market conditions. The negative performance follows on from a loss of $45.4 million ... Read the full article
R&Q names Hillary Jarvis as new chief claims officer for North America
1st September 2022
R&Q has named Hillary Jarvis as its new chief claims officer for North America. The firm said that Jarvis will report to Andrew Pinkes, global chief executive officer for legacy insurance. Her last position before joining R&Q was at Markel, where she was managing director for claims – compliance and strategy. Prior ... Read the full article
R&Q wins support from key investor in Spiegel battle
22nd August 2022
R&Q has won the support of another key investor as it fights to prevent the removal of its Executive Chairman, William Spiegel, following its failed acquisition by Brickell PC Insurance Holdings and a perceived downturn in fortunes since then. Slater Investments, which holds 11.73% of the outstanding ordinary shares in R&Q, ... Read the full article
R&Q investors picking sides
19th August 2022
One of R&Q’s investors has come out in support of William Spiegel, the executive chairman who has been facing calls for his removal as a director of the company. Spiegel’s position has been rocked in recent weeks by the calling of Phoenix Asset Management Partners, which owns around 12% of ... Read the full article
Vida Capital says ‘dramatic change’ to R&Q leadership and strategy would be ‘counterproductive’
17th August 2022
Investment firm Vida Capital, Inc. has today expressed its support of both the current leadership and strategy of R&Q Insurance Holdings Ltd. Vida Capital Management currently manages funds owning some 9.07% of the outstanding shares of R&Q. In a statement, the company, which is a vertically integrated, uncorrelated investment firm specialising in ... Read the full article
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