Accredited Insurance Program Management has appointed Stuart McMurdo as president of Accredited UK & Europe.

Mr McMurdo will be responsible for leading Accredited’s operations across the UK and Europe. He will also become chief executive of Accredited’s regulated entities, upon receipt of relevant regulatory approvals.

The company said Mr McMurdo was a highly experienced industry leader, having most recently been chief executive of Scor’s global reinsurance business.

Mr McMurdo begins on October 1 and will report to William Spiegel, chief executive of Accredited. He will be based in Accredited’s London office.

The new appointee said: “I’m excited to join Accredited and see real opportunities to build on what is already a strong existing footprint.

“Programme managers that can offer capital partners sustainable and attractive underwriting returns while helping MGAs access stable long-term capacity are critical enablers of growth and innovation in our sector.

“Accredited’s balance sheet strength, disciplined approach and high-quality team make it well placed to continue as a partner of choice in the UK and Europe.”

Accredited was acquired in June by funds managed by Onex Partners from Bermudian-based R&Q Investment Holdings.

The company will now operate as an independent programme management company providing insurance capacity in Europe, the United Kingdom and the United States.

Accredited provides underwriting capacity to large managing general agents, connecting those entities with global reinsurance capital in exchange for a recurring fee.