Randall & Quilter (R&Q) Investment holdings have announced that Ken Randall will step down as group CEO but will continue as executive chairman of the group.
The non-life legacy insurance investor and capacity provider of US and European MGA program business also announced that Alan Quilter R&Q co-founder from 1991 will take the reins along with Dr Roger Sellek who has been appointed as director of the company and the newly created positions of joint group CEO with Quilter.
They will both be responsible for the efficient and effective running of the Group’s business and will have direct management responsibility for a number of the R&Q’s business activities.
Dr Sellek joins with over 25 years of wide-ranging experience within the (re)insurance sectors. He previously worked for international credit rating agency A.M. Best, where he was CEO and responsible for the group’s worldwide activities ex-Americas. He was with A.M. Best for 12 years, initially based in London and relocated to Singapore in 2015.
Prior to that Dr Selleck held senior roles within the Corporation of Lloyd’s, providing leadership across a range of areas including the development and implementation of key initiatives, such as Risk-Based Capital and Realistic Disaster Scenarios, as well as the modelling of Lloyd’s Central Fund adequacy. He was also responsible for the delivery of the initial credit ratings for the Lloyd’s Market. As Commercial Director at Lloyd’s from 2000, he was responsible for the market’s strategic business relationships with its investor base, brokers, the rating agencies and the financial-analyst community.
Randall, group executive chairman said: “Succession planning has been high on the Board’s agenda and, with the continued development of R&Q’s business, it’s time to add further strength to our senior leadership team and for me to step back from day-to-day operations. Alan founded the business with me nearly 30 years ago and has played a key part in the growth of the business. He will retain oversight of the Group’s financial and investment management activities. Roger has been known to the Group for many years and I am delighted to welcome him back to R&Q after an absence of more than 25 years. Subject to confirmation of necessary work and residence permits, Roger will initially be based in Bermuda, where the Group is domiciled.”
Dr Sellek said: “Ken Randall persuaded me to enter the insurance industry from academia many years ago and I’m delighted to have the opportunity now to be able to work with Ken, Alan and Mark. R&Q has evolved to become a major force in its chosen sectors of the insurance industry and I am very much relishing the opportunity to contribute to its continuing growth as part of the leadership team.”