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Randall & Quilter says acquisition pipeline remains strong

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    • Andrew Pearce

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Randall & Quilter (R&Q) will confirm that its Canadian managing general agency (MGA) will close during the company's Annual General meeting (AGM) today.

Chairman and CEO Ken Randall will announce the closure of the Canadian MGA operations on the back of a "thorough review" which will incur a one-off cost of £600,000.

However, Mr Randall will insist, aside from the Canadian operation, that the underwriting management division is performing "satisfactorily" and the company is expecting improved trading within the division.

In April, R&Q reported a loss of £488,000 for the year ended 2011 while its underwriting management division racked up a loss

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