Applied Underwriters has unveiled a newly consolidated enterprise named United Risk, which brings together the entirety of the firm’s MGA and MGU businesses into a single cohesive brand, headed by industry leader Dan Malloy.
Malloy, who has been appointed CEO of United Risk, most recently served as CEO of SiriusPoint after leading Third Point Re, also as CEO. Before that, he was Executive Vice President of AON Benfield.
Applied Underwriters suggested that Malloy’s executive leadership culminates a string of prominent principals joining the organisation, including Chris Day formerly of Tokio Marine HCC, Steve McGill formerly of Validus and Joshua Betz formerly of Argo.
Jamie Sahara, President and Founder of Applied Underwriters, commented, “The establishment of United Risk itself underlines the position we now enjoy as the fast-moving ‘go-to’ for development and M&A in underwriting and distribution, especially given the extraordinary mapping we offer for proven entrepreneurs seeking a pathway for realizing growth and value.”
Sahara added, “I’ve known Dan for over 20 years, and under Dan’s trusted leadership we’re going to gather even more momentum. But we’re sure to keep management at United Risk lean and focused. There isn’t going to be a lot of corporate bureaucracy—United Risk is about building MGA businesses that are efficient, strong and valuable.”
Malloy himself said, “United Risk is unique in that it has all the ingredients for success: an inspiring ethos, the capital and operational resources, the camaraderie of top-notch talent, and goodwill that runs deep throughout the industry. The growth potential here is, frankly, as impressive as it is exciting.”
Meanwhile, Steve Menzies, Chairman and Founder of Applied Underwriters, stated that the approach espoused by Applied for all of its businesses is acutely evident for United Risk, noting, “We are a private company, so we’re able to look at things differently. We have the winning formula of powerful, autonomous decision-making throughout our organization bound together by an ethic of hard work and achievement.
“United Risk has a mission to cultivate the independent growth of each of its MGAs and MGUs according to each business’ own appropriate course. Our continuing and unprecedented aggregation of talent tells it all: the greater Applied Underwriters organization is here to stay as a contender.”
