#USA #Applied Underwriters #Omaha #American Atlantic #North American Casualty

American Atlantic Assurance Company to Launch EU Underwriting in 2025

The American Atlantic Assurance Company, a key player in the insurance market, is set to commence its underwriting operations in the European Union on January 1, 2025. This new endeavor was unveiled by Mr. Steve Menzies, the Chairman and Founder of Applied Underwriters, who emphasized the strategic importance of this move.

A Strong Foundation and Comeback

American Atlantic Assurance Company is affiliated with the North American Casualty Group and has received an 'A-' rating from AM Best, signifying its financial strength and operational capabilities. With its headquarters based in Malta, the company is positioned to provide property and casualty coverages across the EU, addressing an array of insurance needs that are increasingly relevant in today's market.

This launch will enable the firm to pick up both new and renewal business starting in 2025, particularly from its financial lines portfolio, which includes management liability and professional indemnity insurance. Additionally, American Atlantic intends to bolster its political risk insurance offerings, which are designed to address risks associated with property damage, business interruption, and liability—a growing area of concern in many global markets today.

Strategic Partnerships and Growth

Mr. Menzies underscored the collaborative aspect of this initiative, revealing that American Atlantic Assurance will deepen its relationships with various divisions such as Applied Financial Lines and Applied Credit Underwriters, particularly in London. This partnership aims to enhance the underwriting of structured credit and political risks, providing a comprehensive suite of services for clients navigating complex international landscapes.

Mr. Jeroen Claesen, President and Chief Underwriting Officer for Applied Financial Lines in the EU and Middle East, emphasized the operational synergies between divisions, stating that the company has already initiated steps for a seamless transition for current customers. The anticipated improvements, he noted, come from the combined strength of long-term stability and strategic alignment across these platforms.

A Positive Outlook

Looking ahead, Mr. Menzies remains optimistic about the future. He stated, "We are diligently deploying resources to support our global partners' burgeoning businesses in fulfillment of our long-term strategic growth blueprint." The firm's outlook is broadly positive across the various lines of business worldwide, indicating a strong recovery and growth trajectory.

As American Atlantic Assurance prepares for its upcoming European operations, it is setting the stage for a significant presence in the evolving insurance landscape of the EU. With its innovative coverage solutions and strategic partnerships, the company is poised to make a meaningful impact in 2025 and beyond.

For more information about the American Atlantic Assurance Company and its offerings, visit its website or explore the parent company, Applied Underwriters.