Applied Underwriters Spins Off United Risk as a New Independent Insurance Powerhouse

United Risk Emerges as a Stand-Alone Leader

In a strategic move that marks a significant milestone, Applied Underwriters has successfully spun off its subsidiary United Risk into an independent entity. This transition not only underscores United Risk's rapid growth since its inception in November 2023 but also positions it as one of the largest Managing General Agents (MGAs) globally. According to Jamie Sahara, President of Applied Underwriters, this transformation enables United Risk to expedite its global initiatives with renewed vigor.

Overview of United Risk's Expansion

United Risk has built a robust portfolio featuring 28 diverse MGA and MGU programs that cater to several niche markets in the insurance sector. The company's operational footprint extends across more than 30 offices worldwide, including major financial hubs like New York, London, and Paris. With a team of over 250 skilled insurance professionals, United Risk is recognized for its exceptional market intelligence and innovative approach to underwriting.

Mr. Sahara believes that the company possesses immense potential. He praised the leadership team at United Risk for their strong commitment to building a premier insurance business. During this transition, United Risk will maintain strategic partnerships with other Applied affiliates. These collaborations are anticipated to provide valuable resources that will enhance United Risk's competitive edge, especially in fields requiring advanced expertise such as cybersecurity, IT development, artificial intelligence, and strategic branding.

Leadership and Vision

The new financial leadership at United Risk is demonstrated by the recent appointment of CFO Alex Amezquita. Before joining United Risk, Amezquita had an impressive background as the CFO of Herbalife, along with experience as a Senior VP at Moelis & Company, a renowned global investment bank. He views the spin-off as a critical step towards growth, stating, "Applied has incubated every step of United Risk's platform for growth. We are now ready to explore new opportunities as we establish our presence as a financial powerhouse."

The optimism expressed by Amezquita is echoed across the United Risk team. The comprehensive framework developed during its time as a subsidiary will support the company in navigating the complex landscape of the financial services industry. With a team eager to tackle upcoming challenges, the future appears bright for United Risk.

About United Risk

United Risk operates as an independent property and casualty insurance underwriting and distribution platform. Although it boasts its own operational autonomy, the company has the backing of Applied Underwriters' powerful brand identity and extensive operational resources. Located at the prestigious 50 Rockefeller Plaza in New York, United Risk is set to redefine industry standards by leveraging its unique capability to deliver tailored insurance solutions effectively.

About Applied Underwriters

Founded as a global risk services firm, Applied Underwriters specializes in helping organizations and individuals manage uncertainty with innovative insurance and reinsurance solutions. Recognized for its strong financial position and client-centric approach, the company has a significant presence in the United States, United Kingdom, European Union, and the Middle East. The operational headquarters is situated in Omaha, Nebraska, where it continues to drive innovation in the risk management sector.

As United Risk embarks on this new journey, its trajectory will undoubtedly be closely watched within the industry for developments that align with the evolving needs of a dynamic marketplace. This is not just a spin-off; it’s the emergence of a formidable player in the global insurance arena.