9 September, 2020
Randall & Quilter Investment Holdings Ltd. (AIM: RQIH) (“R&Q”), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce the appointment of Patrick J. Rastiello as CEO of its newly established US Excess & Surplus (“E&S”) Program Management business, Accredited Specialty Insurance Company (“ASIC”).
As guided in its recent Program Management update, R&Q expects to enter the US E&S Program Management market in Q4 2020.
Patrick brings 40 years of experience in the insurance market, with a particular focus on working with MGAs and programs. He joins R&Q from Aon Reinsurance where for the last 10 years he was Executive Managing Director, founder and leader of its MGA/Program Practice Group. Pat was with Aon for 23 years, prior to which he held reinsurance and program underwriting roles both in London and the US for 17 years. During his tenure at Aon, Patrick had notable reinsurance production responsibilities culminating with the development and successful execution of Aon’s MGA/Program Practice Group. In addition, Patrick founded and launched the “Ignition Forum”, now recognised as one of the premier gatherings for MGAs across the US.
Patrick will be based in Boston and work closely with Todd Campbell, President and CEO of Accredited Surety and Casualty Company, R&Q’s US admitted market program management company.
Commenting on the appointment, Alan Quilter, Group Chief Executive Officer, said:
“We continue to be excited by the progress in our Program Management business and are pleased to welcome Pat as CEO of what will be our E&S program manager, Accredited Specialty Insurance Company. We are on track for its launch later this year, completing our strategic objective of establishing Accredited as a comprehensive program management solutions provider in all its major markets. I look forward to Pat joining and leading the growth of our E&S program offering.”
William Spiegel, Deputy Group Executive Chairman, said:
“Pat is an excellent addition to R&Q’s senior management team. He has an outstanding track record of building and growing Aon’s successful program businesses making him a natural choice to lead Accredited Specialty Insurance Company. I am confident that Pat’s knowledge of the E&S market as well as his long and deep relationships with the MGA community will bring significant value to ASIC. I look forward to Pat joining R&Q and working closely with him.”
Pat Rastiello, also commented:
“Accredited is a business I know well, and I’ve been impressed with how successfully the team has rapidly established a leading program manager in the US. The opportunity to create a meaningful E&S business as part of the Accredited platform is compelling. R&Q is an ambitious specialty insurance company with significant momentum, and I am excited to be joining its highly qualified leadership team.”
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