Randall & Quilter Investment Holdings (R&Q) has announced that its subsidiary, Accredited Surety & Casualty Company, has closed its largest-ever program underwriting partnership.
Beginning July 01, Accredited started underwriting on behalf of Atlas General Services Insurance, a US program management administrator. Headquartered in California, Atlas is one of the nation’s leading workers’ compensation administrators, and provides coverage for several different classes, including construction, habitational risks, hotels, and office/retail.
The partnership between Accredited and Atlas is initially focused on workers’ comp, and is estimated to be worth an initial $30 million in annual gross written premium, according to R&Q. Atlas and R&Q expect that figure to grow significantly in the next two to three years, the company said.
The tie-up with Atlas is the third new program underwriting partnership this year for Accredited. Atlas works with a panel of highly rated reinsurance companies, and Accredited will provide coverage supported by 100% quota share reinsurance.
“We are delighted to be working with Atlas, a best-in-class MGA that is one of the nation’s leading providers of workers’ compensation products,” said Todd Campbell, CEO of Accredited. “Accredited closed five new program underwriting partnerships in 2017, and Atlas is our third one for 2018. With a strong pipeline of new partnerships, Accredited is excited to be delivering on our mission to be the program underwriter of choice for US MGAs and their capital partners.”
“This partnership with Atlas is based on R&Q and Accredited’s more than 30 years’ experience of insurance management in different risk classes and Accredited’s fully admitted status in all 50 states,” said Ken Randall, CEO of R&Q. “We look forward to working with Atlas and will be making further announcements regarding additional partnerships in the second half of 2018.”
