Up-for-sale capacity provider Accredited’s profits soar despite group loss
Accredited, one of the major capacity providers to managing general agents in the UK, has reported a 76% rise in gross written premium to $1.8bn (£1.42bn) in 2022.
In a record result, operating profits grew strongly by 170% to $55.7m in 2022. However, the group company, R&Q Insurance Holdings, posted a pre-tax operating loss of $33.3m.
$32mR&Q was 'impacted by $32m of adverse development and the transition to a fee-based revenue model at R&Q Legacy'
The company said in its 2022 results statement that it was 'impacted by $32m of adverse development and the transition to a fee-based revenue model at R&Q Legacy'.
The group has successfully
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