22nd Feb 2021 14:36
Randall & Quilter Investment Holdings Ltd - Bermuda-based firm focused on non-life legacy insurance and program management - Posts update for Program Management business for 2020, including 46% increase in gross written premium to USD538.9 million from USD369.3 million. Annual economic commission revenue rises 76% to USD22.7 million from USD12.9 million, with the number of active programs rising to 48 from 30, increasing contracted premium to USD1.28 billion from USD842 million. Notes entry into the US Excess & Surplus Program Management Market in the final quarter of 2020.
Chief Executive Alan Quilter: "In 2020, our Program Management business trading under the Accredited banner continued its strong growth. Our brand and growing reputation in Europe and the US is affording us many opportunities and, with our strong underwriting teams in place across many sectors we look forward to further growth in 2021.
"With the launch of our US E&S capability in 2020 Accredited is a now a comprehensive program management solutions provider in all its markets."
Current stock price: 186.00 pence
Year-to-date change: up 5.7%
By Anna Farley; [email protected]
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