R&Q MGA CEO steps down

The chief executive officer of R&Q MGA has stepped down, following the sale of R&Q Marine Services to Hiscox.

Nicholas Hales joined the insurance services and investment company in 2011 from the Talbot/Validus group company Underwriting Risk Services.

For over three years, Hales, who is a board member of the managing general agents' association (MGAA), was responsible for building and creating R&Q’s global MGA business, specialising in niche underwriting sectors.

According to R&Q, he steered the business to premium income of £37 million and oversaw the successful sale of RQMS.

Ken Randall, group chairman and chief executive officer, 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.”