(Alliance News) - Randall & Quilter Investment Holdings Ltd on Wednesday said one of its businesses has had its "excellent" rating reaffirmed.
Randall & Quilter is a non-life legacy insurance investor and capacity provider for the US and European managing general agent market.
The firm's Accredited Surety & Casualty Co Inc, based in Florida, has had its AM Best Group rating affirmed at A-, or excellent, and its financial size rating boosted to IX from VIII.
Executive Chair Ken Randall said: "We are delighted to receive the group upgrade by AM Best. In two years, R&Q has become a leading provider of high-quality program underwriting capacity in both the US and Europe.
"Crucial to this offering is our AM Best A- (Excellent) financial strength rating which is a badge of confidence that our partners can have in Randall & Quilter's capital strength and has been a driving force in our growth."
Shares were 3.3% higher on Wednesday afternoon in London at 190.00 pence each.
By George Collard; georgecollard@alliancenews.com
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R&Q Insurance (RQIH)