Accredited Surety and Casualty Company (ASCC) and Accredited Insurance (Europe) (AIEL), the wholly-owned entities of Randall & Quilter Investment Holdings (R&Q), have had their long-term issuer credit ratings of “a-” and financial strength ratings of A- affirmed by A.M. Best.
The long-term ICR of “bbb-” of R&Q has also been affirmed.
ASCC, a Florida-based US insurer, and AIEL, a Malta-based European insurer, are regularly used by R&Q in its transactions and acquisitions in the loss portfolio transfer, workers’ compensation assumption, captive insurance and self-insurance space.
The entities are also pivotal to the group’s expanding programme business, providing insurance services to managing general agents and normal subordination of holding company creditors to operating company policyholders.
The ratings of ASCC and AIEL are reflective of R&Q’s consolidated balance sheet, categorised as “strong”, in addition to its adequate operating performance, neutral business profile and appropriate enterprise risk management.
A.M. Best noted that, as a non-operating insurance holding company, R&Q’s rating “is determined by reference to the credit assessment of R&Q on a consolidated basis, and the normal subordination of holding company creditors to operating company policyholders”.
