Business

Randall & Quilter profits soar in full-year results

Specialist insurance firm Randall & Quilter has reported a 180% increase in pre-tax profits to £40.1m for the year ended 31 December 2019.

The group also reported 13% growth in Net Asset Value per Share (including return to shareholders), and earnings per Share (basic) increased by 269% to 21.4p during the period.

Additionally, the firm reported 31% growth in Gross Reserves, and 16 transactions were completed in 2019 including the largest acquisition to date with the purchase of Global Re at a cost of $80.5m.

Mike Walker was also appointed as head of legacy operations during the year.

Randall and Quilter said: “We are pleased to report that 2019 was a record year for the Group. Our Pre-Tax Profit was £40.1m, our After-Tax Profit was £38.9 million and our Net Asset Value per Share (including return to shareholders) increased by 13% to 148.1p per share.

“At £40.1m, our pre-tax profit was a group record and almost three times the equivalent result in 2018. This was the result of the continued growth in both our Program Management and Legacy businesses as we successfully executed against our strategyand capitalized on the significant opportunities in both segments.”

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