• Strategy
  • Innovation
  • Expertise

Accredited Surety and Casualty Announces Underwriting Agreement

14 July, 2016

Accredited Surety and Casualty Company, Inc. (“ASC”), a subsidiary of Randall & Quilter (“R&Q”), is pleased to announce it has entered into an underwriting agreement with East Coast Surety Agency, LLC (“ECS”) a subsidiary of CB Holdings Group, Inc. and affiliate of Boston Indemnity Company, Inc. (“BIC”) and Bondex Insurance Company. ECS, BIC and Bondex specialize in providing surety bonds to small and mid-size companies that are underserved in the traditional surety market.

Under the terms of the agreement, ASC will retain a small percentage of the underwriting, supported by a very strong reinsurer panel.

Accredited Surety and Casualty Company, Inc. is a Florida domiciled property and casualty insurance company. It is rated “A- Excellent” by A. M. Best.  ASC was purchased in November, 2014 by Randall & Quilter as part of its strategy to underwrite admitted business in the United States.

Ken Randall Chairman and Chief Executive Officer of R&Q, commented:  “We have successfully launched the first phase of our plan to broaden the business model for Accredited, which was acquired by the Group at the end of 2014.  Accredited is authorised to underwrite a wide range of domestic insurance business across the USA and has recently received approval to accept loss portfolio transfers of certain classes of domestic US legacy business.

With the support of a number of highly rated Lloyd’s and International reinsurers, our aim is to generate sustainable service fee income for the group whilst retaining limited net underwriting exposures. I believe that Accredited has the potential to become a meaningful source of income for Lloyd’s and other international reinsurers who are not authorised to underwrite such domestic USA business.  We see significant growth potential for Accredited in both live and legacy areas and we expect to be making further announcements in due course, as and when specific transactions have been concluded.”

Matthew J. Semeraro, President and Chief Operating Officer of ECS, BIC and Bondex, commented: “We are excited to partner with Accredited and R&Q to further enhance our capabilities and provide financially solid, “A” rated surety solutions to our agents and brokers.”

Click here for the full Press Release

Accredited Surety and Casualty Announces Underwriting Agreement

Latest News

Listing of Senior Unsecured Floating Rate Notes
Listing of Senior Unsecured Floating Rate Notes

Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) (the “Company”), the global program underwriting management and legacy acquisitions specialist, is pleased to announce that application has been made to the Irish Stock Exchange plc, trading as Euronext Dublin (“Euronext Dublin”) for …

Accredited announces new program underwriting partnership
Accredited announces new program underwriting partnership

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 …

Accredited’s growth momentum underpinned by A.M. Best Group rating increase
Accredited’s growth momentum underpinned by A.M. Best Group rating increase

Accredited Surety & Casualty Company, Inc. (‘Accredited’), the Florida-headquartered US insurance company that is licenced to write admitted P&C business in all fifty states, has had its A.M. Best Group rating increased from VII to VIII. The group rating increase …