Randall & Quilter Investment Holdings Ltd. (R&Q) has named Patrick J. Rastiello as the President and Chief Executive Officer (CEO) of Accredited Specialty Insurance Company, its recently launched U.S. E&S Program Management operation.
In mid-August, the legacy specialist announced plans for its accelerated, Q4 2020 entry into the U.S. E&S sector via the Accredited banner.
Now, the company has revealed that the operation will be led by Rastiello, who joins from Aon Reinsurance where for the last decade he served as Executive Managing Director, founder and leader of its MGA/Program Practice Group.
He brings more than 40 years of industry experience to the role, with a particular focus on MGAs and programs. He spent 23 years with insurance and reinsurance broker Aon, during which he had notable reinsurance production responsibilities, culminating in the development and execution of the firm’s MGA/Program Practice Group.
Prior to Aon, Rastiello held reinsurance and program underwriting roles in London and the U.S. for 17 years.
In his new role, he will be based in Boston and will work closely with Todd Campbell, President and CEO of Accredited Surety and Casualty Company.
Alan Quilter, Group CEO, said: “We continue to be excited by the progress in our Program Management business and are pleased to welcome Pat as CEO of what will be our E&S program manager, Accredited Specialty Insurance Company. We are on track for its launch later this year, completing our strategic objective of establishing Accredited as a comprehensive program management solutions provider in all its major markets. I look forward to Pat joining and leading the growth of our E&S program offering.”
William Spiegel, Deputy Group Executive Chairman, commented: “Pat is an excellent addition to R&Q’s senior management team. He has an outstanding track record of building and growing Aon’s successful program businesses making him a natural choice to lead Accredited Specialty Insurance Company. I am confident that Pat’s knowledge of the E&S market as well as his long and deep relationships with the MGA community will bring significant value to ASIC. I look forward to Pat joining R&Q and working closely with him.”
While Rastiello added: “Accredited is a business I know well, and I’ve been impressed with how successfully the team has rapidly established a leading program manager in the US. The opportunity to create a meaningful E&S business as part of the Accredited platform is compelling. R&Q is an ambitious specialty insurance company with significant momentum, and I am excited to be joining its highly qualified leadership team.”
