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Accredited Surety and Casualty Announces Agreement with Atlas General Insurance Services

October 30, 2017
News

Accredited Surety and Casualty Company, Inc. (“ASC”), a subsidiary of Randall & Quilter (“R&Q”), is pleased to announce its agreement with Atlas General Insurance Services (“Atlas”), for its Western Trade Craft artisan contractor business focused on surety, commercial liability and inland marine coverages in Washington, California, Idaho and Nevada. ASC will not retain risk as it is fully reinsured with an A.M. Best A- rated reinsurer. ASC anticipates up to $25 million annual gross written premium for this business.

Accredited Surety and Casualty Company, Inc. is a Florida domiciled property and casualty insurance company. It is rated “A- Excellent” by A.M. Best. ASC was purchased in November 2014 by Randall & Quilter as part of its strategy to underwrite admitted business in the United States primarily on behalf of highly rated reinsurers.

Ken Randall Chairman and Chief Executive Officer of R&Q, commented:

“Accredited is authorised to underwrite a wide range of domestic insurance business across the USA and we are delighted to launch this significant sized program with Atlas Western Trade Craft.

“With the support of a number of highly rated Lloyd’s and international reinsurers, our aim is to generate growing and sustainable service fee income for the group whilst retaining limited net underwriting exposures. We see significant growth potential for Accredited and we expect to be making further announcements in due course, as and when specific transactions have been concluded.”

Click here for the full Press Release