#None #Applied Underwriters #American Atlantic #European Union

American Atlantic Assurance Company to Launch EU Operations

On January 1, 2025, the American Atlantic Assurance Company, backed by Applied Underwriters, will officially commence its underwriting operations within the European Union. With an 'A-' rating from A.M. Best, this initiative is poised to significantly enhance the company's presence in the international insurance landscape.

Strategic Importance of the Launch

Mr. Steve Menzies, the Chairman and Founder of Applied Underwriters, expressed that this new endeavor is strategically important for the company's various divisions, including Applied Financial Lines, Applied Credit Underwriters, and Applied Crisis Underwriters. These divisions, with established offices in major cities like Paris, Cologne, London, and New York, will support American Atlantic Assurance in catering to a sophisticated range of coverage needs.

American Atlantic Assurance plans to immediately assume new and renewal business starting in 2025 from its financial lines portfolio, specifically focusing on management liability and professional indemnity insurance. As part of its expanding operations, the company will also facilitate the growing global book of political risk insurance products, addressing critical aspects such as property damage, business interruption, and liability concerns.

Collaborative Efforts for a Seamless Transition

Mr. Jeroen Claesen, the President and Chief Underwriting Officer for Applied Financial Lines in the EU and Middle East, highlighted the operational synergies that would allow a smooth transition for existing clients. He noted, ‘We have already initiated steps to ensure a seamless transition for our existing customers and expect dramatic improvements overall that come from enhanced stability and synchronized strategic approaches.’ Claesen anticipates that these efforts will lead to exceptional resource delivery for customers going into 2025 and beyond.

Optimistic Growth Outlook

Menzies stated that the organization is diligently mobilizing resources to support its partners’ rapidly growing business needs. He remarked on the optimistic outlook for almost all lines of business on a global scale in the upcoming years, emphasizing the importance of long-term strategic growth plans in achieving sustainable success.

Company Profile

Headquartered in Malta, the American Atlantic Assurance Company operates as part of the North American Casualty group. Applied Underwriters, with a comprehensive risk service framework, manages uncertainties for businesses by offering innovative insurance and reinsurance solutions. The firm has established a strong reputation for client care and financial stability, with operations extending across the US, UK, EU, and the Middle East.

With this new venture into the European market, American Atlantic Assurance aims to leverage its established expertise to better serve clients in a changing global insurance environment, ultimately contributing to its growth trajectory and supporting economic stability in the regions it serves. As the company prepares for this significant milestone, it sets a promising stage for future expansions and partnerships.