Program underwriting partnership

RNS Number : 5393C

Randall & Quilter Inv Hldgs Ltd

11 February 2020

 

Randall & Quilter Investment Holdings Ltd. ("R&Q")

11 February 2020

Inperio and Accredited Pioneer Extension of UK solicitors' PI Market

The specialist UK Professional Indemnity MGA Inperio (London) Limited ("Inperio") has worked with the European program underwriter Accredited Insurance (Europe) Limited (''AIEL''), R&Q 's AM Best A- (Excellent) rated European insurance company, to launch the first professional indemnity policy focused on freelance UK solicitors regulated by the Solicitors Regulation Authority.

The facility, fulfils a growing demand for professional indemnity cover for freelance solicitors regulated by the Solicitors Regulation Authority, following a recent rule change.

Commenting on the initiative, Inperio CEO Simon Lovat said: "As an MGA who specialises in the provision of professional indemnity insurance to legal firms, we are excited to continue to support the legal profession with the launch of the Freelance Solicitors policy. Since the introduction of the new Freelance Solicitors regulations in November 2019 the legal industry has been looking for a suitable solution and now we are in a position to offer it.''

Colin Johnson, CEO of AIEL Program Management, added: "We are really excited to be supporting Inperio, and offering this new and much needed product to freelance solicitors. It reflects the strength of our relationship which combines Inperio's expert underwriting and knowledge of the market with Accredited's strong balance sheet, high quality capacity and a culture of acting swiftly to meet customers' ever-changing requirements. This is a natural extension to our existing business with Simon and his team at Inperio and we are confident this new policy will enjoy the same success.''

AIEL- which is licensed to write all non-life classes in all EU member states and is A- (excellent) AM Best rated - provides a distribution channel for reinsurers and can provide a ready-made Brexit solution to European MGAs.

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 Stephane Auton/ James Thomas Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

Notes to Editors:

Inperio Background

Inperio (London) Limited is a privately held specialist MGA established in 2014 which provides underwriting solutions predominantly to the legal profession. Inperio's professional indemnity products are backed by Accredited Insurance (Europe) Limited where they specialise in writing insurance for the SME sector of the Market.

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 program 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

 

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