Randall & Quilter subsidiaries complete several new programme partnerships

Randall & Quilter Investment Holdings announced on Wednesday that its wholly-owned subsidiaries, Accredited Surety and Casualty Company (Accredited US) and Accredited Insurance Europe, had recently completed a number of new programme partnerships as they continued to deliver on their objective of being the “partner of choice” for managing general agents requiring high-quality licenced European and US insurance capacity.

The AIM-traded firm said that from July, Accredited US was the issuing carrier on behalf of Paragon Insurance Holdings for specialty commercial transportation coverage in New York.

It said Paragon, based in Avon, Connecticut, was a “broadly diversified” managing general agent with a focus on niche specialty lines.

“Paragon is a leading MGA with principals who each have over 20 years of specialty insurance experience,” said Todd Campbell, president and chief executive officer of Accredited US.

“We are very pleased to partner with them and to begin our relationship.

“Accredited has a growing pipeline of new partnerships for 2019 and we are excited to be delivering on our mission to be the program underwriter of choice for US MGAs, managing general underwriters, programme owners and their capital partners.”

Separately, Accredited Europe had agreed to a new programme underwriting partnership with Sophro MGA, a UK managing general agent providing after-the-event insurance.

Accredited Europe had also extended its programme underwriting partnership with First Underwriting, a UK managing general agent, to provide household insurance.

First already underwrote a motor binder on the Accredited platform.

“'Having built strong underwriting and support teams in the US, Malta and London, we are now seeing the fruits of their hard work,” said Randall & Quilter joint chief executive officer Alan Quilter.

“The Accredited brand expects to see a significant uplift in 2019 to the $500m of contracted GWP premium that we underwrote in 2018.

“Our pipeline of program business opportunities continues to grow and we are pleased to announce the launch of these new programs and the development of our relationships with our MGA's.”