R&Q unveils new programme management unit

Bermuda-based Randall & Quilter (R&Q) Investment Holdings has revealed a corporate restructuring to create a new division comprising of its US and European programme management businesses.

The newly named division Accredited will be jointly run by Todd Campbell, as CEO of its US business, and Colin Johnson, as CEO of its European division. Both executives will report to Alan Quilter, co-founder of R&Q and Group CFO.

The company has also renamed its Malta-domiciled insurance platform to Accredited Insurance.

Accredited is one of two core businesses of R&Q - the other being legacy acquisitions and the claims management of discontinued business unit.

The company said its strategic aim is to provide high-quality and fully licenced capacity for managing general agents (MGAs) and other counter-parties on both sides of the Atlantic.

Both Accredited Surety and Casualty Company, the group’s wholly owned US platform, and its European equivalent, Accredited Insurance (Europe) have been granted an A- (Excellent) financial strength rating from AM Best. Domiciled in Florida, Accredited Surety & Casualty is licenced in all fifty states to write admitted business for all P&C classes.

R&Q said that after Brexit takes place Accredited Insurance (Europe) will remain fully licenced to write every P&C class across all remaining 27 EU member states. In addition, a UK branch office will enable it to write business on behalf of UK MGAs.

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-focussed attention to MGAs 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.”

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