Atlas General Insurance Services, a multi-line programme administrator, has reached a programme underwriting partnership with Accredited Surety & Casualty Company.
Under the terms of the agreement, Atlas will act as Accredited’s exclusive program administrator across the US.
Accredited, a subsidiary of Bermuda-based Randall & Quilter (R&Q) Investment, is licensed to write admitted business in all 50 US states.
Starting 1 July, Accredited started underwriting on behalf of programme management administrator Atlas General Services Insurance.
At the outset, the collaboration with Accredited will concentrate on workers’ compensation and is estimated to be worth an initial $30m in annual gross written premium (GWP).
It is said to be the largest programme underwriting partnership Accredited has ever done.
Accredited CEO Todd Campbell said: “Accredited closed five new programme underwriting partnerships in 2017 and Atlas is our third new one for 2018.
“With a strong pipeline of new partnerships, Accredited is excited to be delivering on our mission to be the programme underwriter of choice for US MGAs and their capital partners.”
Atlas president and CEO Bill Trzos said: “By combining Atlas’ professional underwriting and industry knowledge with Accredited’s history of exemplary services, we are confident that this new partnership will provide the highest quality workers’ compensation product options to our customer base.”