Departure follows sale of R&Q Marine Services to Hiscox
Randall & Quilter’s managing general agency (MGA) business chief executive Nick Hales has left the company.
His departure follows the sale of R&Q’s yacht MGA R&Q Marine Services to Lloyd’s insurer Hiscox.
Hiscox was also in the running to buy R&Q’s high-net-worth MGA Synergy but the deal fell through after two companies failed to agree a price.
Hales joined R&Q in December 2011 from global (re)insurance group Validus’s London-based subsidiary Underwriting Risk Services, where he was managing director.
He is also a board member of the Managing General Agents’ Association.
R&Q credited Hales with building and creating its MGA business, steering it to premium income of £37m. He also oversaw the sale of R&Q Marine Services to Hiscox.
R&Q group chief executive Ken Randall said: “I would like to thank Nick for his significant contribution to the business. He has been instrumental in building a leading specialist MGA business and we wish him well for the future.”
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