R&Q gets approval for Hamilton RITC deal
Bermuda-based Randall & Quilter Investment Holdings (R&Q) has announced that its subsidiary Accredited Surety & Casualty Company (Accredited) has closed another program underwriting partnership in 2018.
From 1 April 2018, Accredited became the issuing carrier on behalf of American Team Managers (ATM), an independently owned insurance MGA and wholesaler that specialises in providing cargo insurance for the US inland transportation industry.
According to R&Q Accredited will act as the insurer on behalf of ATM, on a fully reinsured basis, and as a conduit between the firm and its insurance capital providers providing its infrastructure and licenced paper to enable ATM to focus on servicing its customers. The cargo insurance program provides coverage in 12 western states with limits of up to $250,000.
“We are delighted to be working with ATM, a leading MGA in the inland transportation sector and with a well-deserved reputation for excellence and superior service,” said Todd Campbell, the president and chief executive officer of Accredited. “Accredited completed five new program underwriting partnerships in 2017. With a strong pipeline of new partnerships in first half of 2018, Accredited is excited about delivering on our mission to be the program insurer of choice for US MGAs and their capital partners.”
“Accredited is delivering on our mission to be a leading provider of program underwriting services to MGAs/MGUs,” said Ken Randall, the chief executive officer of R&Q. “We look forward to partnering with ATM and in completing other new partnerships in the second quarter, 2018.”
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