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”.
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news
CNA CEO refocuses Lloyd’s syndicate for international turnaround
Arch provides capacity to new insurtech MGA C-Quence
Prior year cat losses hit Everest Re in Q2
California Carr fire among top 10 most destructive on record
Arcus Syndicate 1856 promotes Gfeller, Delaney
Ed appoints new marine division director
