R&Q partners with three MGAs in Europe

Randall & Quilter Investment Holdings’ Malta-based European subsidiary R&Q Insurance has signed three new programme underwriting partnerships with European managing general agents (MGAs).

R&Q Insurance is partnering with Futura, a Spanish MGA specialising in surety bonds, Inspire, a UK based MGA providing private motor insurance, as well as All Risks, an Italian MGA specialising in surety bonds, professional indemnity, and third-party liability.

“We look forward to finalising a number of other deals in the coming months as we expand both the geographical spread and the number of classes we underwrite,” said Colin Johnson, CEO of R&Q UK & European programme management.

R&Q focuses on providing programme underwriting facilities to MGAs in the EU, and in the US via R&Q Malta's sister company, Accredited Surety & Casualty Company.

Accredited offers licenced insurance capacity and infrastructure to act as a conduit between MGAs and reinsurance capital providers.

R&Q Malta is licenced to write all non-life classes in all EU member states and provides Brexit solution to European MGAs and reinsurers.

Ken Randall, R&Q CEO, said: “These three transactions demonstrate R&Q’s ability to provide high-quality insurance coverage to MGAs throughout the EU. With a strong pipeline of new partnerships, R&Q is on target to exceed its expectations of at least 15 new programme partnerships in Europe and the US in 2018.

“To date, R&Q Malta and Accredited have contracted live programmes expected to produce in excess of $200m in annual gross premiums and are on track to more than double this figure before year-end,” Randall noted.

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