Accredited begins new program partnership

RNS Number : 4793K

Randall & Quilter Inv Hldgs Ltd

11 April 2018

 

Randall & Quilter Investment Holdings Ltd.

Accredited begins new program partnership with American Team Managers

11 April 2018

R&Q Investment Holdings Ltd ('R&Q'), is pleased to announce that Accredited Surety & Casualty Company Inc ('Accredited') the Florida-headquartered insurance company that is licensed in all 50 states to write admitted business, has closed another program underwriting partnership in 2018. Accredited is a subsidiary of R&Q.

From 1 April 2018, Accredited became the issuing carrier on behalf of American Team Managers (ATM), an independently owned insurance MGA and wholesaler that specialises in providing cargo insurance for the US inland transportation industry.

Accredited will act as the insurer on behalf of ATM, on a fully reinsured basis, and as a conduit between the firm and its insurance capital providers providing its infrastructure and licenced paper to enable ATM to focus on servicing its customers. The cargo insurance program provides coverage in 12 western states with limits of up to $250,000.

Todd Campbell, the President and CEO of Accredited, commented: "we are delighted to be working with ATM, a leading MGA in the inland transportation sector and with a well-deserved reputation for excellence and superior service".

"Accredited completed five new program underwriting partnerships in 2017. With a strong pipeline of new partnerships in first half of 2018, Accredited is excited about delivering on our mission to be the program insurer of choice for US MGAs and their capital partners".

Ken Randall, the CEO of R&Q, added: "Accredited is delivering on our mission to be a leading provider of program underwriting services to MGAs/MGUs. We look forward to partnering with ATM and in completing other new partnerships in the second quarter, 2018".

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Ken Randall Tel: [phone] Numis Securities Limited Stuart Skinner (Nominated Adviser) Tel: [phone] Charles Farquhar (Broker) 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

 The overall mission of the Bermuda based Group is to:

·      Generate profits and capital extractions from expert management of legacy non-life insurance acquisitions/reinsurances, including in Lloyd's; and

·      Grow commission income from its licensed (and rated) carriers in the US and EU/UK, writing niche and profitable programme business, largely on behalf of highly rated reinsurers.

Our aim is to continue to grow sustainable profit streams to support our business model and increase book value and cash distributions to shareholders.

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

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

About Accredited Surety & Casualty Company, Inc:

Accredited Surety & Casualty Inc is an AM Best A- (VII) rated, T Listed, insurance company that has admitted licences to operate in all fifty states and is an ISO and AAIS subscriber.
Forty-five years old, Accredited partners with MGAs and similar companies and their insurance capital partners to write business on Accredited Surety & Casualty licensed and admitted paper.
Accredited closed five new program underwriting partnerships with MGAs across the US in 2017. With a strong pipeline, Accredited expects to be one of the fastest growing US program insurers in 2018.

Accredited is part of the R&Q Group, a company listed on the London Stock Exchange that specialises in developing and delivering insurance program partnerships in the US and Europe and solutions to owners of discontinued insurance business.

 

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