R&Q Investment Holdings will undergo a corporate restructuring to create a newly named division, Accredited, which will contain its US and European programme management business.
Accredited aims to provide high quality and fully licensed capacity for managing general agents and other counterparties in the US and Europe.
According to R&Q, Accredited’s new name reflects the importance of its core business and provide a simplified, single brand that provides services to customers on both sides of the Atlantic.
Accredited will be run by Todd Campbell and Colin Johnson, CEOs of its US business and European division, respectively.
Both Campbell and Johnson will report to Alan Quilter, co-founder of R&Q and group CFO.
In a statement, R&Q said that both platforms are enjoying “high demand” for their services at a time of “significant market turmoil” in the sector, continuing uncertainty over Brexit, and the emergence of “disruptive financial technology initiatives”.
After the UK leaves the EU next year, Accredited will remain fully licensed to write every property and casualty class across all remaining 27 EU member states. Its UK branch will enable it to write business on behalf of UK agents.
Johnson commented: “R&Q is, of course, well known for legacy acquisitions and for providing first-class innovative exit solutions to owners of discontinued business.”
“Since 2017, we have brought this same level of professional, client-focused attention to managing general agents in the US and in Europe who require a program underwriting partner who can act as the conduit between them and their reinsurers.”
Campbell added: “There is a growing demand for program partnerships and Accredited is determined to be the market’s go-to choice on both sides of the Atlantic.”
