A subsidiary of Bermudian-based R&Q Investment Holdings Ltd has struck a new underwriting partnership with a focus on non-standard auto insurance.

R&Q said that from May 1 its Accredited Surety and Casualty Company is to underwrite on behalf of Renaissance Managing General Agency, LLC, a Miami, Florida-based MGA.

Renaissance specialises in providing customer-focused, technologically driven private passenger automobile insurance coverage.

Florida-headquartered Accredited will act as the programme underwriting manager on behalf of Renaissance and as a conduit between the firm and its insurance capital providers.

Todd Campbell, chief executive officer of Accredited, said: “Accredited closed five new programme underwriting partnerships in 2017 and Renaissance is our second new one for 2018.

“With a strong pipeline of new partnerships in first half of 2018, Accredited is excited about delivering on our mission to be the programme underwriter of choice for US MGAs and their capital partners.”

Ken Randall, CEO of R&Q, added: “Accredited is at the forefront of R&Q’s new strategic focus on the provision of programme underwriting services in the US and Europe.

“We look forward to partnering with Renaissance and in completing other new partnerships in the second quarter, 2018.”