9 September 2020Actuarial & underwriting

R&Q hires Patrick Rastiello to run new E&S programme management business

Randall & Quilter Investment Holdings has named Patrick Rastiello as chief executive of its newly established US excess and surplus (E&S) programme management business, Accredited Specialty Insurance Company (ASIC).

Based in Boston, Rastiello works alongside Todd Campbell, president and chief executive of Accredited Surety and Casualty Company, R&Q’s US admitted market programme management company. R&Q expects to enter the US E&S programme management market in the fourth quarter 2020.

Rastiello brings 40 years of experience in the insurance market, with a particular focus on working with MGAs and programs. He joins from Aon Reinsurance where he spent the last ten years as executive managing director, founder and leader of the MGA/ programme practice group. He was with Aon for 23 years with various reinsurance production responsibilities, and founded and launched the Ignition Forum, an event that brings together MGAs across the US.

Before Aon Rastiello held reinsurance and programme underwriting roles in London and the US for 17 years.

William Spiegel, deputy group executive chairman, praised Rastiello’s “outstanding track record of building and growing Aon’s successful programme businesses, making him a natural choice to lead ASIC.”

Rastiello said he was impressed with how successfully the ASIC team had established itself as a leading programme manager in the US. “The opportunity to create a meaningful E&S business as part of the Accredited platform is compelling,” he added.