Randall & Quilter expands partnerships in the US and Europe
Accredited Surety and Casualty Company (Accredited US) and Accredited Insurance (Europe) (Accredited Europe), subsidiaries of Randall & Quilter Investment Holdings, have completed a number of new program partnerships.
Accredited Europe has agreed a new program underwriting partnership with Sophro MGA, a UK MGA providing after the event insurance. It also extended its program underwriting partnership with First Underwriting, a UK MGA that already underwrites a motor binder on the Accredited platform, to provide household insurance.
Meanwhile Accredited US has been acting as issuing carrier on behalf of Paragon Insurance Holdings for specialty commercial transportation coverage in New York since July.
Todd Campbell, president and CEO of Accredited US, described Paragon as a leading MGA with principals who each have over 20 years of specialty insurance experience. “Accredited has a growing 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, managing general underwriters (MGUs), program owners and their capital partners,” he said.
Ron Ganiats, CEO of Paragon, said Accredited’s business strategy and capabilities are well suited for the MGA market. “Paragon expects to see the trading relationship with Accredited US to grow over the coming year,” he added.
Colin Johnson, CEO of European program management, said: “We are excited by the opportunities we are seeing in the European insurance markets where MGAs are drawn to Accredited Europe’s offering of full-range licences, highly-rated capacity and exacting corporate governance standards.’’
Alan Quilter, R&Q joint CEO and group CFO, added: ‘’The Accredited brand expects to see a significant uplift in 2019 to the $500 million of contracted GWP premium that we underwrote in 2018. Our pipeline of program business opportunities continues to grow and we are pleased to announce the launch of these new programs and the development of our relationships with our MGA’s.”