R&Q Insurance Holdings GWP of $807 million, an 82% increase

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced a performance update for its Program Management business for the first six months of the year ending 30 June 2022.

Highlights

·      Gross Written Premium (‘GWP’) of $807 million (H1 2021: $445 million), an 82% increase

·      Program Fee Income of $39 million (H1 2021: $19 million), a 105% increase1

·      75 programs (YE 2021: 69 programs), an increase of 6 programs

·      Continued to expand MGA network and partnerships:

o  Post period-end, two new programs were approved, and we agreed to add $100 million to our existing partnership with Corvus Insurance

o  Hosted inaugural European and US MGA forums with hundreds of attendees and leading MGAs from the US, UK, and Europe

William SpiegelExecutive Group Chairman, commented:

“Our Program Management business produced another very strong period of growth in the first half of 2022. All three of our platforms (US Admitted, US Non-Admitted, and Europe) grew GWP and Fee Income relative to the year-ago period. Our pipeline of additional MGA partnerships and growth opportunities remains robust as our R&Q Accredited franchise continues to grow its reputation with both MGAs and reinsurers as a leading place to do business. This is reflected in the additional number of scale partnerships we have signed in the first half of 2022. Since the end of the first quarter, we also held inaugural MGA forums in the US and Europe where our Program Management partners met, exchanged ideas, heard from industry experts, and forged new business opportunities. This is just one of the ways in which we are building a differentiated proposition relative to peers.

“Additionally, despite rising interest rates and volatile financial markets, we note that our investment portfolio is well positioned with our assets significantly shorter in duration than our liabilities and over 95% comprising liquid, investment grade fixed income securities and cash. Our portfolio has not experienced any credit impairments.”

Notes:

1.     Program Fee Income is on a written basis and excludes our share of earnings from minority stakes in MGAs.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
R&Q Insurance Holdings

More articles like this

R&Q Insurance Holdings Ltd

R&Q Insurance Holdings update on proposed sale of Accredited

On 20 October 2023, R&Q Insurance Holdings Ltd (LON:RQIH) announced the proposed Sale of Accredited to Onex Corporation (the “Announcement”). Capitalised terms used, but not defined, in this announcement have the meaning given to such terms in the Announcement.

R&Q Insurance Holdings Ltd

R&Q Insurance signs LPT Reinsurance agreement with a UK motor insurer

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced that it has signed a Loss Portfolio Transfer (LPT) Reinsurance agreement with a UK motor insurer covering net

R&Q Insurance Holdings Ltd

R&Q Insurance in talks with Onex regarding a potential sale of Accredited

R&Q Insurance Holdings Ltd (LON:RQIH) has noted the press commentary regarding a potential sale of the Company’s Program Management business, Accredited. As previously announced, the R&Q Insurance Board has been undertaking a review of the strategic options for the Group, which

R&Q Insurance Holdings Ltd

R&Q Insurance appoints Jerome Lande as a Non-Executive Director

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on the Program Management and Legacy Insurance businesses, has announced that, further to the announcement made on 30 June 2023, Jerome Lande has

R&Q Insurance Holdings Ltd

R&Q Insurance appoints Jerome Lande as a Non-Executive Director

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on the Program Management and Legacy Insurance businesses, has announced that, in accordance with the Purchase and Exchange Agreement entered into with Scopia Capital

R&Q Insurance Holdings Ltd

R&Q Insurance secures independent rating for Accredited

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced that AM Best has recognized Accredited as an independent ratings unit, distinct from R&Q.

R&Q Insurance Holdings Ltd

R&Q Insurance appoints Jeffrey Hayman as Non-Executive Chairman

R&Q Insurance Holdings Ltd (LON:RQI), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced the appointment of Jeffrey (Jeff) Hayman as Non-Executive Chairman of R&Q, with immediate effect.

R&Q Insurance Holdings Ltd

R&Q Insurance completes sale of its 40% holding in Tradesman

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced that, further to the announcement of 23 February 2023, the completion of the sale

R&Q Insurance Holdings

R&Q Insurance updates on its Program Management business

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced an update for its Program Management business. R&Q Accredited approved partnerships with seven new

R&Q Insurance Holdings

R&Q Insurance acquires legacy liabilities of MSA Safety

R&Q Insurance Holdings Ltd (LON:RQIH) and Obra Capital, Inc. has announced that they have acquired, through a newly formed joint venture, a wholly owned subsidiary of global safety equipment manufacturer MSA Safety Incorporated. The acquired subsidiary holds

R&Q Insurance Holdings

R&Q Insurance GWP grows by over 80% to $1.3 billion

R&Q Insurance Holdings Ltd (LON:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, has announced a performance update for its Program Management business for the nine months ending 30