Program underwriting partnership

RNS Number : 4146T

Randall & Quilter Inv Hldgs Ltd

21 March 2019

 

Randall & Quilter Investment Holdings Ltd.

21 March 2019

Accredited announces new program underwriting partnership with Pronto General Insurance Agency LTD

Randall & Quilter Investment Holdings Ltd. ('R&Q') is pleased to announce that its wholly owned subsidiary Accredited Surety and Casualty Company, Inc. ('Accredited') the Florida domiciled insurance company that is licensed in all 50 States to write admitted business has entered into another program partnership.

From 1 March 2019, Accredited will be the issuing carrier on behalf of Pronto General Insurance Agency LTD ('Pronto') in California for its expanding private passenger automobile business. Pronto is a leading specialty MGA that provides a variety of coverages to its customers in Texas and California.

Todd Campbell, CEO of Accredited, commented: "We are delighted to be working with Pronto, a leading MGA in California and Texas.  The Pronto team has developed well over a decade's worth of successful multichannel growth while attracting significant outside investment."

"Accredited has a strong pipeline of new partnerships for 2019 and we are excited to be delivering on our mission to be the program underwriter of choice for US MGAs, MGUs, program owners and their capital partners."

Ken Randall, CEO of R&Q added:  "This partnership with Pronto is further evidence of delivering on our mission to be a leading provider of program underwriting services to MGAs and MGUs.  We look forward to partnering with Pronto and in completing other new partnerships in 2019."

-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]

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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