Randall & Quilter Inv Hldgs Ltd Program underwriting partnership
August 26 2020 - 2:00AM
RNS Non-Regulatory
TIDMRQIH
Randall & Quilter Inv Hldgs Ltd
26 August 2020
Randall & Quilter Investment Holdings Ltd.
Accredited announces new program underwriting partnership with
Surround Insurance
26 August 2020
Accredited Surety & Casualty Company, Inc. ("Accredited"), a
wholly owned subsidiary of Randall & Quilter Investment
Holdings Ltd. ("R&Q") and a Florida domiciled insurance company
licensed in all 50 states to write admitted business, is pleased to
announce that it has entered into a new program partnership with
Surround Insurance Agency, LLC ('Surround").
Surround, co-founded in 2018 by Jonathon Jay Grayson and Kate
Terry, is headquartered in Cambridge, Massachusetts and will offer
a starter pack of insurance coverages for urban professionals. The
first product offering will include Renters, Non-Owned Auto, and
Professional Liability policies flat priced in one combined package
to make insurance simple and accessible for asset-lite consumers
who rent, share, and freelance. From August 2020, Accredited will
be the issuing carrier on behalf of Surround. The program will
initially launch in Massachusetts, with plans to then expand into
Illinois and additional states.
Todd Campbell, President and CEO of Accredited, commented: "We
are delighted to partner with Surround as the team continues to
execute on their growth plans. Their particular customer focus and
Insurer Tech platform is an exciting development in the industry.
Accredited has a growing pipeline of new partnerships to be
launched before the year end and we are excited to be delivering on
our mission to be the program underwriter of choice for US MGAs,
MGUs, program owners and their capital partners."
Jay Grayson, CEO of Surround, added: "The world around us has
changed dramatically since the advent of the smart phone. Consumers
in their 20s and 30s enjoy amazing choice and freedom across the
ways they live, work, and move in the modern economy. They're also
experiencing a widening gap in risk exposure because of their new
lifestyles. Kate and I are excited to be working with Accredited to
build the most customer-centric insurance products in the
market."
Alan Quilter, R&Q Group CEO, said: "This partnership is
further evidence of our commitment to supporting high quality
program business, with superior MGAs, across the US and highlights
the important role that Accredited plays in this arena."
Ends
Enquiries to:
Randall & Quilter Investment Holdings www.rqih.com
Ltd.
Alan Quilter Tel: 020 7780 5960
Numis Securities Limited
Stuart Skinner (Nominated Adviser) Tel: 020 7260 1000
Charles Farquhar (Broker) Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
Stephane Auton/James Thomas Tel: 020 7408 4090
FTI Consulting
Edward Berry/Tom Blackwell Tel: 020 3727 1046
Notes to Editors:
About R&Q
R&Q is a non-life global specialty insurance company
operating two core, highly complementary, businesses: Program
Management and Legacy Insurance. Both these businesses are leaders
in markets with high barriers to entry and significant secular
growth opportunities.
Legacy Insurance generates profits and capital extractions from
expert management of legacy non-life insurance portfolios. Program
Management generates commission income from its licensed (and
rated) carriers in the US, EU and the UK, writing niche and
profitable program business, largely on behalf of highly rated
reinsurers.
For the financial year ended 31 December 2019 R&Q reported
pre-tax profits of over GBP40 million.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website : www.rqih.com
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END
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