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17 Jan 2023 07:00
R&Q Insurance Holdings Ltd
Program Management Update
Seven new programs added during December
17 January 2023
R&Q Insurance Holdings Ltd, (AIM-RQIH) ("R&Q"), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce an update for its Program Management business.
R&Q Accredited approved partnerships with seven new programs in December 2022. These programs will begin writing business over the course of the first quarter of 2023, with an anticipated total Gross Written Premium ('GWP') of ~$130 million over next 12-15 months.
The new programs include:
· Expanding existing partnerships for Accredited America with three new programs with Falvey Insurance Group and one with Southern Star MGA
· New program partnerships for Accredited America with Platinum Specialty Underwriters, LLC and Cover Whale
· New program partnership for Accredited Europe with for broker GmbH, its first MGA partner in Germany
William Spiegel, Executive Group Chairman, commented:
"Our Program Management business ended 2022 with a flurry of activity as we approved and began onboarding a number of new programs. We continue focusing on diversifying our business while also deepening our relationships with existing partners. It is exciting to see our growth being delivered across our three platforms (US Admitted, US Non-Admitted, and Europe) including our first program partnership in Germany. In 2023 we will see continued growth from our existing partners as well as the onboarding of further new MGAs. Our pipeline remains strong and we believe we are well placed as a partner of choice for leading MGAs in the US, UK and Europe."
R&Q expects to issue its full Q4 Program Update in February.
Ends
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Notes to Editors:
About R&Q
R&Q is a global non-life specialty insurance company. We operate two core, highly complementary, businesses: Program Management and Legacy Insurance. Both these businesses are leaders in their respective markets.
Our approach is to deploy our origination and underwriting capabilities, alongside our licensed and rated carriers in the US, EU, and the UK, to generate attractive fee returns in Program Management and Legacy Insurance.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
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