31 July 2018Insurance

Randall & Quilter unit strikes underwriting partnership with Atlas General

Bermuda-based Randall & Quilter (R&Q) Investment’s wholly owned subsidiary Accredited Surety & Casualty Company (Accredited) has closed a programme underwriting partnership with Atlas General Services Insurance.

Florida-headquartered Accredited is licensed in all 50 states to write admitted business. From July 1, 2018, Accredited began underwriting on behalf of programme management administrator Atlas General Services Insurance.

Managing general agent (MGA) Atlas is one of the leading workers’ compensation administrators in the US and has evolved to provide coverage for a number of different classes including construction, habitational risks, hotels and office/retail, according to a company statement.

The partnership with Accredited is initially focussed on workers’ compensation and is estimated to be worth an initial $30 million in annual gross written premium (GWP). It is the largest programme underwriting partnership Accredited has ever done and Atlas and R&Q expect this figure to grow significantly over the next two to three years.

Atlas works closely with a panel of highly rated reinsurance companies and Accredited will provide coverage supported by 100 percent quota share reinsurance.

“Accredited closed five new programme underwriting partnerships in 2017 and Atlas is our third new one for 2018,” said Accredited CEO Todd Campbell. “With a strong pipeline of new partnerships, Accredited is excited to be delivering on our mission to be the programme underwriter of choice for US MGAs and their capital partners”.

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More on this story

News
3 January 2019   A subsidiary of Randall & Quilter Investment Holdings (R&Q) has partnered with a UK managing general agent (MGA) to offer private motor and household insurance coverage.
Alternative Risk Transfer
4 September 2018   Randall & Quilter Investment Holdings (R&Q) has completed a deal to reinsurer a portfolio of commercial auto liability risks for a US risk retention group (RRG).
Insurance
16 August 2018   Randall & Quilter Investment Holdings’ Malta-based European subsidiary R&Q Insurance has signed three new programme underwriting partnerships with European managing general agents (MGAs).