AM Greatest Scores Unchanged for Accredited, Onex’s New Program Administration Unit – Cyber Tech

AM Greatest confirms that the monetary power ranking and long-term issuer credit score scores of Accredited’s subsidiary corporations stay unchanged following their acquisition by Onex Companions from R&Q Insurance coverage Holdings Ltd. — a deal that was accomplished on June 28.

AM Greatest positioned these credit score scores beneath overview with creating implications on Oct. 22, 2023, when Randall & Quilter Insurance coverage Holdings Ltd. entered right into a conditional settlement to promote 100% of its fairness curiosity in Randall & Quilter America Holdings Inc., its program administration subsidiary to funds suggested by Onex, the Toronto-based non-public fairness firm.

Unchanged are the monetary power ranking of A- (Glorious) and the long-term issuer credit score scores of “a-” (Glorious) of Accredited Specialty Insurance coverage Firm (in Arizona); Accredited Surety and Casualty Co. (in Orlando) and Accredited Insurance coverage (Europe) Ltd. (in Malta), AM Greatest stated. The businesses are collectively referred to as Accredited.

Onex Companions Completes Acquisition of R&Q’s Program Supervisor, Accredited

Accredited will now function as an unbiased program administration firm offering insurance coverage capability in Europe, the UK and United States. Accredited offers underwriting capability to giant managing normal brokers in trade for a recurring charge, AM Greatest stated, noting that Onex has confirmed that this technique stays unchanged with the acquisition.

AM Greatest stated it views the sale of Accredited to Onex as credit score constructive for Accredited. The scores are anticipated to stay beneath overview with creating implications till AM Greatest assesses the standard and extent of assist supplied by Onex to Accredited, at which level the scores overview could also be resolved.

AM Greatest confirms that its monetary power ranking and long-term issuer credit score scores of Accredited’s subsidiary corporations stay unchanged following their acquisition by Onex Companions from R&Q Insurance coverage Holdings Ltd., which was accomplished on June 28.

AM Greatest positioned these credit score scores beneath overview with creating implications on Oct. 22, 2023, when Randall & Quilter Insurance coverage Holdings Ltd. entered right into a conditional settlement to promote 100% of its fairness curiosity in Randall & Quilter America Holdings Inc., the intermediate holding firm of Accredited, to funds suggested by Onex, the Toronto-based non-public fairness firm.

Unchanged are the monetary power ranking of A- (Glorious) and the long-term issuer credit score scores of “a-” (Glorious) of Accredited Specialty Insurance coverage Firm (in Arizona); Accredited Surety and Casualty Co. (in Orlando) and Accredited Insurance coverage (Europe) Ltd. (in Malta). The businesses are collectively referred to as Accredited.

Accredited will now function as an unbiased program administration firm offering insurance coverage capability in Europe, the UK and United States. Accredited offers underwriting capability to giant managing normal brokers in trade for a recurring charge, AM Greatest stated, noting that Onex has confirmed that this technique stays unchanged with the acquisition.

AM Greatest stated it views the sale of Accredited to Onex as credit score constructive for Accredited. The scores are anticipated to stay beneath overview with creating implications till AM Greatest assesses the standard and extent of assist supplied by Onex to Accredited, at which level the scores overview could also be resolved.

Supply: AM Greatest

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