Modern Slavery Statement

2020 Statement on Modern Slavery and Human Trafficking

Randall & Quilter Investment Holdings Ltd.

Randall & Quilter Investment Holdings Ltd. and its subsidiary businesses (the “Group” or “R&Q”) is a diverse insurance group, headquartered and operating in Bermuda with extensive operations in the UK, USA and Europe. The Group is a leading provider of finality solutions for run-off portfolios and global programme capacity for MGAs and their reinsurers.

The R&Q team consists of 295 insurance professionals of whom:

  • 173 are in the UK
  • 100 are in the USA
  • 11 are in Europe
  • 11 are in Bermuda

Randall & Quilter Investment Holdings Ltd. is listed on the UK AIM market.

The Group has suppliers in the UK, Europe, USA, Bermuda, and India. Based on its knowledge of its suppliers and the fact that it is operating in the strongly regulated area of insurance, the Group believes that the risk to the Group of modern slavery or human trafficking is low.

In 2020 the Group continued to embrace its commitment to a zero-tolerance approach to modern slavery and human trafficking.

Against this background, during this year the Group undertook two major initiatives:

  • A Chief Human Resources Officer was appointed to build on our existing human resource expertise. One of the key strategic priorities for the Group is to put greater focus on diversity and inclusion and to provide development opportunities for all staff.
  • A specialist Group Procurement Manager was appointed and R&Q now has a dedicated Procurement Function responsible for developing specific sourcing strategies and plans, to harmonise purchasing processes across the organisation and prevent any risk of occurrence of modern slavery or human trafficking in R&Q’s supply chains.

R&Q has complied with legal and regulatory requirements everywhere it conducted business and embedded the values in its Code of Ethics in its activities. The Code continues to affirm the Group’s commitment to compliance with equal employment opportunity laws and other applicable civil rights, human rights and employment and labour laws. R&Q expects staff to behave ethically and transparently and to be accountable for their actions.

During the year, R&Q’s policies, frameworks, and actions continued, with the aim to prevent modern slavery and human trafficking in its business and supply lines, and included:

Human Resources

  • employment verification checks as part of the Group’s hiring process
  • requiring agencies who supply workers to carry out employment verification checks, where relevant

Operations

  • supplier due diligence using detailed questionnaires
  • subjecting key business transactions to both onboarding and periodic regulatory screening
  • providing regular training for staff on sanctions restrictions, anti-bribery, anti-money laundering, whistleblowing, and modern slavery and anti-trafficking legislation
  • providing ongoing training and support for all staff on how and where they can raise concerns about wrongdoing and assurances that they will not suffer reprisals for doing so

This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes the Group’s slavery and human trafficking statement for the financial year ending 31 December 2020. This statement has been approved by the Randall & Quilter Investment Holdings Ltd. board of directors, who will review and update it annually.

Click here for the Slavery and Human Trafficking Statement