R&Q Insurance Holdings Ltd Update

RNS Number : 4910T

R&Q Insurance Holdings Ltd

24 June 2024

R&Q Insurance Holdings Ltd

Update

24 June 2024

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") announced on 19 June 2024 that R&Q will be filing for provisional liquidation in Bermuda in due course.

R&Q confirms that, on 21 June 2024, at approximately 15.30 Bermuda time (19.30 BST) the Company filed, in the Bermuda Supreme Court, an application to appoint Joint Provisional Liquidators to oversee the liquidation and ultimately the winding up of the Company and a petition to take the initial steps to commence that winding up of the Company.

The Company anticipates that this process will result in the prompt closing of the sale of the Company's program management business, Accredited, to funds advised by Onex Corporation, as referred to in the Company's previous announcements. The Board believes that this will provide the best possible result in the circumstances for the Company's stakeholders.

Further announcements will be made, as appropriate, in due course.

-Ends-

Enquiries to:

R&Q Insurance Holdings Ltd Tel: +44 (0)20 7780 5850

Jeff Hayman

William Spiegel

Tom Solomon

Fenchurch Advisory Partners LLP (Financial Adviser) Tel: +44 (0)20 7382 2222

Kunal Gandhi

Brendan Perkins

John Sipp

Richard Locke

Tihomir Kerkenezov

Barclays Bank PLC (Financial Adviser and Joint Broker) Tel: +44 (0)20 7632 2322

Gary Antenberg

Richard Bassingthwaighte

Anusuya Nayar Gupta

Grant Bickwit

Howden Tiger (Financial Adviser) Tel : +44 (0)20 7398 4888

Rob Bredahl

Leo Beckham

Deutsche Numis (Nominated Adviser and Joint Broker) Tel : +44 (0)20 7260 1000

Charles Farquhar

Giles Rolls

Ankura Consulting (Europe) (Debt Financial Adviser) Tel : +44 (0)20 7469 1111

Alistair Dick

FTI Consulting Tel: +44 (0)20 3727 1051

Tom Blackwell

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END

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