R&Q Insurance Holdings Ltd
Appointment of Non-Executive Chairman
31 March 2023
R&Q Insurance Holdings Ltd, (AIM-RQIH) ("R&Q"), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce the appointment of Jeffrey (Jeff) Hayman as Non-Executive Chairman of R&Q, with immediate effect.
Jeff's extensive industry experience makes him well placed to lead the Board as Non-Executive Chairman. He has spent nearly 40 years in the insurance industry with long tenures at The Travelers and American International Group, including as CEO of Global Consumer Insurance and President & CEO of AIU Far East Holdings. In addition, Jeff was recently a Board member and committee chair of Zurich Insurance Group Ltd.
Following Jeff's appointment, William Spiegel will assume the role of Group CEO and Alan Quilter, R&Q's current CEO, will work exclusively with the Program Management teams in the US and UK/Europe before retiring at the end of December 2023.
William Spiegel, Group Chief Executive Officer, commented:
"As we announced last year, we started a search for a Non-Executive Chairman in order to have a governance structure that is more aligned with best market practice. In Jeff Hayman we have identified an outstanding candidate given his highly relevant experience that includes Board roles in the US, Europe and Asia, and executive and leadership roles with AIG and Travelers. I am excited to work closely with Jeff and look forward to his contributions to the Board.
As a co-founder, Alan has been instrumental in the growth, evolution and success of R&Q over the last 30 years. Most recently, he has played an important role in the expansion and development of our leading Program Management business. On a personal level, I have greatly valued Alan's partnership, collaboration and experience. I am delighted he will remain with us for the remainder of 2023, ensuring a smooth transition before his very well-deserved retirement."
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Regulatory disclosure - The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies.
Jeffrey Lawrence Hayman, 63, holds nil ordinary shares in the Company and nil options. Jeffrey Hayman's current and previous directorships/partnerships are as follows:
Current Directorships/Partnerships:
Hungry Minds Inc
Food Bank of South Jersey
Lakeview Timbers LLC
Former Directorships/Partnerships held in last 5 years:
Zurich Insurance Group Ltd
Zurich Insurance Company Ltd
Lakeview Acquisition Corporation
Save for the disclosures above, there are no further disclosures to be made in accordance with Rule 17 and Schedule 2(g) of the AIM Rules.
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Notes to Editors:
About R&Q
R&Q is a global non-life specialty insurance company. We operate two core businesses: Program Management and Legacy Insurance. Both these businesses are leaders in their respective markets.
Our approach is to deploy our origination and underwriting capabilities, alongside our licensed and rated carriers in the US, EU, and the UK, to generate attractive fee returns in Program Management and Legacy Insurance.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
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