R&Q Investment Holdings (R&Q) has announced a corporate restructuring to create a newly named division, Accredited, which includes its US and European program management businesses.
R&Q is also renaming its Malta-domiciled insurance platform. Formerly R&Q Insurance (Malta) Limited, the platform will now be known as Accredited Insurance (Europe) Limited.
Accredited will be run jointly by Todd Campbell as CEO of its US business and Colin Johnson as CEO of its European business. Campbell and Johnson will report to Alan Quilter, R&Q co-founder and group CFO.
Accredited is one of R&Q’s two core businesses, with the other being legacy acquisitions and the claims management of discontinued businesses. Accredited aims to provide high-quality, fully licensed capacity for MGAs and other counter-parties on both sides of the Atlantic, R&Q said.
Both Accredited Surety and Casualty Company, the group’s US platform, and Accredited Insurance (Europe) Limited have an A- (Excellent) financial strength rating by AM Best.
After Brexit takes place in March 2019, Accredited Insurance (Europe) Limited will remain fully licensed to write every property and casualty class across all remaining European Union member states, and a UK branch office will enable it to write business on behalf of UK MGAs.
“There is a growing demand for program partnerships, and Accredited is determined to be the market’s go-to choice on both sides of the Atlantic,” Campbell said.
