Randall & Quilter Investment Holdings’ (R&Q) wholly-owned subsidiaries, Accredited Surety and Casualty Company, (Accredited US) and Accredited Insurance Europe (Accredited Europe), have recently completed several new programme partnerships.
Accredited US will be the issuing carrier on behalf of Paragon Insurance Holdings (Paragon) for speciality commercial transportation coverage in New York.
Paragon, headquartered in Avon, Connecticut, is a diversified managing general agent (MGA) with a focus on niche specialty lines.
Todd Campbell, president and CEO of Accredited US, commented: “Accredited has a growing pipeline of new partnerships for 2019 and we are excited to be delivering on our mission to be the programme underwriter of choice for US MGAs, programme owners and their capital partners.”
Ron Ganiats, CEO of Paragon, added: “Accredited’s business strategy and capabilities are well suited for the MGA market and Paragon expects to see the trading relationship with Accredited US to grow over the coming years.”
Accredited Europe has also agreed on a new programme underwriting partnership with Sophro MGA, a UK MGA providing after the event insurance.
Accredited Europe has also expanded its programme underwriting partnership with First Underwriting, a UK MGA, to provide household insurance. First already underwrites a motor binder on the Accredited platform.
Colin Johnson, CEO of European programme management, Accredited Insurance, commented: “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’s joint CEO and group CFO, said: “The Accredited brand expects to see a significant uplift in 2019 to the $500 million of contracted gross written premium that we underwrote in 2018.”
He added: “Our pipeline of programme business opportunities continues to grow and we are pleased to announce the launch of these new programmes and the development of our relationships with our MGA’s.”
