7 November 2016 – run-off arrangement
Randall & Quilter Investment Holdings has entered into an arrangement with the Law Society of Ireland in respect of the run-off obligations of the Solicitors Mutual Defence Fund . The latter was established in 1987 as a mutual fund to provide professional indemnity protection for solicitors practicing in Ireland. The fund ceased trading in 2011 due to a series of heavy losses relating to the economic downturn in Ireland. The shares have had a good run and although we have been impressed by the business for some time, there may be better opportunities elsewhere now on valuation grounds. HOLD.