Randall & Quilter subsidiary signs news underwriting partnership

Randall & Quilter said on Thursday that its wholly-owned European subsidiary, Accredited Europe, has signed a new program underwriting partnership with CPD Underwriting Solutions, a UK Managing General Agent providing both private motor and household insurance.

Colin Johnson, chief executive officer of European Program Management, said: ''These two new binding authorities, written in partnership with CPD, further underline our commitment to the European program sector.

"We are confident that our pipeline of opportunities will see us become a major force in the coming months as we expand into other European states and different classes of business."

Meanwhile, Chris Dixon, CEO of CPD Underwriting Solutions, said: "We are delighted to be partnering with Accredited Insurance (Europe) Limited with the launch of this development. Our intermediary panel will have access to Personal Lines products that have been built specifically to cater for the needs of their customers, safe in the knowledge that all participating Insurers/ Reinsurers supporting us have achieved a minimum of A- rating or above. In the days of continuing financial uncertainty this arrangement provides a great deal of security."

Accredited Europe - which is licensed to write all non-life insurance classes in all EU member states and is A- (excellent) AM Best rated - provides a ready-made distribution channel for reinsurers and can provide a ready-made Brexit solution to European MGAs.

At 0900 GMT, the shares were up 4.1% to 172.75p.