Applied Underwriters has announced the formation of Applied Financial Lines, a new enterprise that will operate out of Paris and Cologne.
It will underwrite for several specialty lines in the European Union and in the Middle East, including professional indemnity and Directors & Officers.
Applied Financial Lines will work with a wholesale broker and local retail agent network throughout the EU, Israel, and other countries in the region.
This announcement follows the news that Applied Underwriters has acquired the renewal rights to StarStone’s financial lines book of business.
According to Steve Menzies, CEO of Applied Underwriters: “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.”
Along with this announcement, Jeroen Claesen will be leading Applied Financial Lines, working from the Company’s Paris office.
He previously served as head of financial lines for StarStone and has enjoyed an extensive career in the field with Catlin and other leading companies.
Claesen added: “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.”