Randall & Quilter Investment Holdings plc (‘R&Q’) and Talbot Underwriting Holdings Ltd are in the final stages of negotiation concerning the Yacht and Marine Trades portfolio written through the Talbot owned MGA, Underwriting Risk Services Ltd. (‘URSL’).
Nicholas Hales, Managing Director of URSL, has resigned to take up the position of CEO of R&Q MGA Ltd.
He will be joined by Paul Miller who will underwrite a Yacht and Marine Trades account through a dedicated MGA, R&Q Marine Services Ltd.
It is intended that Talbot Syndicate 1183 will continue to support the Yacht and Marine Trades business by participating in the relevant binding authority contracts.
All other classes of business will remain with URSL and part of the Talbot group.
Robin McCoy, CEO of R&Q’s Underwriting Management Division said “This will be an exciting development of our live operations, and a significant extension of R&Q’s MGA business.