Private Capital News
Randall and Quilter Investment Holdings has this morning released news that it has reached agreement to sell its Lloyd’s managing agency business to Coverys, a medical professional liability insurer based in Boston, Massachusetts. R&Q has previously advised of an intention to focus on what it considers its core businesses of acquiring and managing run-off portfolios and providing licensed solutions for property and casualty insurers in the EU and the USA. Both these elements are currently experiencing high degrees of growth.
Catlin Underwriting Agency Limited has confirmed that the figures reported by Lloyd’s yesterday were inaccurate and that the forecast result for Syndicate 6111’s 2015 account should have been reported as a midpoint profit of 10.53% of capacity. This represents a negative movement of 1.12 percentage points from the forecast as reported at 31 December 2016 and not a deterioration of 9.1% as indicated yesterday.