Accredited Surety and Casualty Company (ASC), a subsidiary of Randall & Quilter, has entered into an agreement with Forestry Insurance Company of the Southeast to acquire its auto liability business.
Forestry specialises in commercial general liability for niche logging operators in South Carolina and Georgia.
As part of the agreement, ASC will write for the business, but will not retain any risk.
According to Ken Randall, chairman and CEO of R&Q, the programme will be “supported by a collateralised captive with an excellent panel of highly rated excess reinsurers behind”.
In a statement, R&Q said it anticipates up to $5 million annual gross written premium for the business.
ASC is a property and casualty insurance company domiciled in Florida.
Randall said: “We are pleased to announce the launch of this specialist programme, soon after the launch of Atlas Western Trade Craft.”
