Accredited Agreement

RNS Number : 2162V

Randall & Quilter Inv Hldgs Ltd

01 November 2017

 

Randall & Quilter Investment Holdings Ltd.

Accredited Surety and Casualty Announces Agreement with Forestry Insurance Company of the Southeast for its Commercial Auto Liability Business in South Carolina and Georgia

1 November 2017

Accredited Surety and Casualty Company, Inc. ("ASC"), a subsidiary of Randall & Quilter ("R&Q"), is pleased to announce its agreement with Forestry Insurance Company of the Southeast ("Forestry") specializing in commercial general liability for niche logging operators in South Carolina and Georgia.  ASC will not retain any portion of the business as it will be fully reinsured.  We anticipate up to $5 million annual gross written premium for this business.

Accredited Surety and Casualty Company, Inc. is a Florida domiciled property and casualty insurance company.  It is rated "A- Excellent" by A.M. Best. 

Ken Randall Chairman and Chief Executive Officer of R&Q, commented:  "We are pleased to announce the launch of this specialist program, soon after the launch of Atlas Western Trade Craft.  This program is supported by a collateralised captive with an excellent panel of highly rated excess reinsurers behind.

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Tom Booth Tel: [phone] Numis Securities Limited (Nominated Adviser) Stuart Skinner Tel: [phone] Charles Farquhar Tel: [phone] Shore Capital Stockbrokers Limited Dru Danford / Stephane Auton Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

Notes to Editors:

About R&Q

Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.

R&Q is focused on the following three areas:

·      Insurance Investments

·      Insurance Services

·      Underwriting Management

The Group:

·      provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;

·      employs over 400 insurance professionals based in Bermuda, the US and Europe with wide service capability in both the 'live' and 'run-off' markets;

·      owns and manages a portfolio of insurance companies, both active and in run-off, in Bermuda, the  US and Europe with net assets of £201m as at 30 June 2017;

·      owns an admitted P&C Insurer, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company;

·      launched Syndicate 1991, which commenced underwriting from January 1, 2013 and has an agreed capacity of £127m for 2017, manages one RITC ('run-off') syndicate, 3330, and owns and operates an MGA platform;

·      acquires and manages a portfolio of insurance receivables, with a carrying cost of £5.1m as at 30 June 2017

The Group was founded by Ken Randall and Alan Quilter in 1991.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

 

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