31 July, 2018
Randall & Quilter Investment Holdings Ltd. (‘R&Q’), is pleased to announce that its wholly owned subsidiary Accredited Surety & Casualty Company, Inc (‘Accredited’) the Florida-headquartered insurance company that is licensed in all 50 states to write admitted business, has closed its largest ever program underwriting partnership.
From 1 July 2018, Accredited began underwriting on behalf of Atlas General Services Insurance LLC (“Atlas”), the leading US program management administrator.
Headquartered in California, Atlas is one of the nation’s leading workers’ compensation administrators and has evolved to provide coverage for a number of different classes including construction, habitational risks, hotels and office/retail.
The partnership is initially focussed on workers’ compensation and is estimated to be worth an initial c$30mn in annual GWP. Atlas and R&Q expect this figure to grow significantly over the next two to three years.
It is the third new program underwriting partnership agreed by Accredited in 2018 and draws on parent company R&Q’s decades of experience in managing long-tail claims and Accredited‘s balance sheet strength which is reflected in its A- (Excellent) financial strength rating and its admitted licences in all fifty states.
Atlas works closely with a panel of highly rated reinsurance companies and Accredited will provide coverage supported by 100 percent quota share reinsurance.
Todd Campbell, CEO of Accredited, commented: “We are delighted to be working with Atlas, a ‘best-in-class’ MGA that is one of the nation’s leading providers of workers’ compensation products.”
“Accredited closed five new program underwriting partnerships in 2017 and Atlas is our third new one for 2018. With a strong pipeline of new partnerships, Accredited is excited to be delivering on our mission to be the program underwriter of choice for US MGAs and their capital partners”.
Ken Randall, CEO of R&Q, added: “This partnership with Atlas is based on R&Q and Accredited’s more than 30 years’ experience of insurance management in different risk classes and Accredited’s fully admitted status in all fifty states.
“We look forward to working with Atlas and will be making further announcements regarding additional partnerships in the second half of 2018”.
Click here for the full Press Release
The Company has issued a total of 83,905 new ordinary shares of 2 pence each to Todd Campbell, Chief Executive Officer and President of Accredited (US) in accordance with his service contract. In addition, the Company has issued 9,661 new …
Following the announcement of the Group’s interim results on 19 September 2018, the Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) (“Company”), the Bermuda based global program underwriting management and legacy acquisitions specialist, is pleased to confirm that a …
Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce it has entered into an agreement to acquire Western Captive Insurance Company Designated Activity Company (“WCIC”) from the Coffey Group of companies in Ireland, their Irish domiciled captive insurance …