A reassuring announcement on April 29th confirmed the underlying resilience of R&Q’s existing businesses, that the potential to grow both core divisions is intact (and conceivably will be buoyed by the current turmoil) and that the group can access expansion capital as required.
Management believes that the pandemic will have a limited effect on its existing business, other than possible short-term delays in completion of transactions. The group’s existing legacy books have limited exposure to unexpired risk, and its program management portfolios are largely reinsured with highly rated counterparties.
R&Q reiterated its previous strategic outlook and intention to proactively pursue opportunities to grow its two core businesses, program management and legacy acquisitions. It expects the impact of the current disruption on the wider insurance industry to generate considerable growth opportunities.
R&Q will alert the market in due course re the expected release date for its FY19 results. Our forecasts are unchanged. We will review them post the results, as well as the potential EPS impact of the new equity.
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