12th Mar 2015 09:50
LONDON (Alliance News) - Insurance services company Randall & Quilter Investment Holdings PLC on Thursday said it expects its pretax profit for 2014 to be in line with revised expectations and said 2015 has started well.
Randall said it expects its pretax profit for the year to the end of December to be in line with the revised expectations it issued in November, when the company issued a profit warning due to a likely increase in provisions to cover asbestos-related claims in its US reinsurance business, weak trading in its US insurance services arm, and lower-than-expected investment income.
The company said, however, that meeting market expectations is dependent on the finalisation of its customary annual actuarial reviews and the timing of the outcome of the ongoing arbitration in former Lloyd's of London Syndicate 102.
Randall said 2015 trading has started well and it remains positive on its prospects for 2015 on the back of a strong legacy pipeline and good progress in new business generation.
Shares in Randall were up 0.2% to 136.75 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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