Applied Financial Lines, Ltd. Formed as Applied Underwriters Expands in the EU and Middle East for Specialty Business
The A Rated U.S. Insurer’s New Enterprise to Begin Expansion Starting with Newly Acquired StarStone’s Core Products
Mr. Steve Menzies, CEO of Applied Underwriters, Inc., announced that the Company has formed Applied Financial Lines, Ltd., a new enterprise to operate from Paris and Cologne to underwrite several specialty lines in the European Union and in the Middle East, including professional indemnity and D&O. 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.
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The announcement follows closely upon the news that Applied Underwriters has acquired the renewal rights to StarStone’s financial lines book of business, providing a solid basis for the planned expansion and growth. According to Mr. Menzies: “Our strategic plans call for expansion 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.”
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Mr. Jeroen Claesen has been appointed to lead Applied Financial Lines, working from the Company’s Paris office. Mr. Claesen had served as head of financial lines for StarStone and has enjoyed an extensive career in the field with Catlin and other leading companies.
According to Mr. Claesen: “We will grow the enterprise substantially, intensifying our relationships with the brokerage community and refining our product offerings and services, with the established expertise that Applied Underwriters brings to the equation. We welcome inquiries.”
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