Applied Underwriters has formed a new enterprise to operate from Paris and Cologne to underwrite several specialty lines in the EU and in the Middle East, including professional indemnity and D&O, the company's chairman Mr Steve Menzies announces in a statement.
The new firm, Applied Financial Lines, will work with an extensive wholesale broker and local retail agent network throughout the EU, Israel and other countries in the region.
The announcement follows closely upon the news that Applied has acquired the renewal rights to StarStone’s financial lines book of business, providing a solid basis for the planned expansion and growth.
Mr Menzies said,“ Our strategic plans call for entry into the EU and Middle East markets with a combination of the product mix we have secured via the StarStone acquisition, the hiring of top executives and the situating of core underwriting staff in offices across the continent, beginning with Paris and Cologne.”
Mr Jaroen Claesen has been appointed to lead Applied Financial Lines, working from the company’s Paris base. Mr Claesen had served as head of Financial Lines for StarStone and has enjoyed an extensive career in the field with Caitlin and other leading companies.
Mr Claesen said, “We will grow the company substantially, intensifying our relationships with the brokerage community and refining our product offerings and services, with the established expertise that Applied brings to the equation.”
Applied Underwriters is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance, and reinsurance solutions. Applied Underwriters operates throughout the US. Its operational headquarters is located in Omaha, Nebraska.