R&Q Investment’s European unit has formed partnership with three European general agents Futura, Inspire and All Risks.
A managing general agent is a business entity appointed by an insurer to solicit applications from agents for insurance contracts or to negotiate insurance contracts.
R&Q Insurance (Malta) has signed underwriting partnerships with Spanish agent Futura, UK-based Insipire and All Risks, an Italian agent.
Under the partnership, R&Q Malta will act as a conduit between the managing general agents and reinsurance capital providers.
Randall & Quilter CEO and chairman Ken Randall said: “These three transactions demonstrate R&Q’s ability to provide high quality insurance coverage to MGAs throughout the EU. With a strong pipeline of new partnerships, R&Q is on target to exceed its expectations of at least 15 new program partnerships in Europe and the US in 2018.”
“To date R&Q Malta and Accredited Surety & Casualty Co Inc have contracted live programs expected to produce in excess of $200m in annual gross premiums and are on track to more than double this figure before year-end.”
Accredited Surety & Casualty is a sister company of R&Q Malta.
Shares in parent Randall & Quilter Investment were up 3.7% at 168.50 pence each on Thursday morning.
Source: Company Press Release