Randall & Quilter Inv Hldgs Ltd Accredited Agreement
December 01 2017 - 1:02AM
RNS Non-Regulatory
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
01 December 2017
Randall & Quilter Investment Holdings Ltd.
Accredited Surety and Casualty Announces Agreement with The
Hotaling Group, Inc. dba Tradesman Program Managers, LLC
Specializing in Contractors General Liability in New York & New
Jersey
1 December 2017
Accredited Surety and Casualty Company, Inc. ("ASC"), a
subsidiary of Randall & Quilter ("R&Q"), is pleased to
announce its agreement with The Hotaling Group, Inc. ("THG"), for
its Tradesman Program Managers contractor business in New York and
New Jersey. ASC will not retain risk on the program, which is being
100% ceded to a collateralized reinsurer. ASC anticipates up to $10
million annual gross written premium for this business.
Accredited Surety and Casualty Company, Inc. is a Florida
domiciled property and casualty insurance company. It is rated "A-
Excellent" by A.M. Best. ASC was purchased in November 2014 by
Randall & Quilter as part of its strategy to underwrite
admitted business in the United States primarily on behalf of
highly rated reinsurers.
Ken Randall Chairman and Chief Executive Officer of R&Q,
commented: "Accredited is authorised to underwrite a wide range of
domestic insurance business across the USA and we are delighted to
launch another meaningful sized program in 2017.
With the support of a number of highly rated Lloyd's and
international reinsurers, our aim is to generate growing and
sustainable service fee income for the group whilst retaining
limited net underwriting exposures. We see significant growth
potential for Accredited and we expect to be making further
announcements in due course, as and when specific transactions have
been concluded."
ENDS
Enquiries to:
Randall & Quilter Investment Holdings Ltd. www.rqih.com
Tom Booth Tel: +1 441 247 8330
FTI Consulting
Edward Berry/Tom Blackwell Tel: 020 3727 1046/1051
Notes to Editors:
About R&Q
The overall mission of the Bermuda based Group is to:
-- generate profits and capital extractions from expert
management of legacy non-life insurance acquisitions/ reinsurances,
including in Lloyd's; and
-- grow commission income from its licensed (and rated) carriers
in the US and EU/UK, writing niche and profitable programme
business, largely on behalf of highly rated reinsurers.
Our aim is to continue to grow sustainable profit streams to
support our business model and increase book value and cash
distributions to shareholders.
The Group was founded by Ken Randall and Alan Quilter in
1991.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
This information is provided by RNS
The company news service from the London Stock Exchange
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