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Applied Underwriters Looks to Complete Major Acquisitions, Continue Organic Growth following Successful 2021 Year | Nebraska

Applied Underwriters Looks to Complete Major Acquisitions, Continue Organic Growth following Successful 2021 Year | Nebraska
Written by publishing team

Omaha, Neb.And January 4, 2022 /PRNewswire/ — Steve Menzies, CEO, Applied Insurance Corporation, and Jimmy SaharaPresident, announced their goals for 2022 in a letter to stakeholders. After what has been called a “pivotal year for the company’s growth”, leaders have made the realization of large-scale plans and continued organic growth of current and newly introduced products and coverage as key elements on the company’s agenda.

According to Mr. Menzies, “Although uncertainty, inflation and societal maladies have brought about new relief and directional inertia in and out of all our business enterprises, we have been able to continue operating at nearly full capacity to increase our financial capacity, enhance our stability and add many new business units. in the United States and abroad.

Mr. Sahara notes that Applied remains somewhat cautious, but never fearful: “We consider the recognized traditional domestic market to be oversupplied. The primary carriers achieve neither favorable rates nor reasonable terms and conditions. Conversely, we view the E&S market as attractive in some sectors, and we expect the E&S market to solidify before stabilizing.”

Mr. Sahara continued, “Of course, environmental and security insurance coverage is distinctly complex. Building on our successful efforts in 2021, Applied is well positioned to quickly take advantage of changing market conditions and the resulting opportunities.”

Mr. Menzies concluded: “We have added larger transactions to our pipeline, and we hope to close some larger deals in 2022. Our company’s strong work ethic has demonstrated itself in our employees’ desire to stay in business and making sure our project coasts. Nothing more than forced Circumstances “.

The 2021 summary of Applied’s activities includes strategic acquisitions in specialized sectors and the creation of new practices, including the following transactions.

…acquired Concept Special Risks in February. Founded in 1999, Concept Special Risks, a Yorkshire, United KingdomBased MGA International, is a leading provider of coverage to a wide range of marine vessels and operators worldwide. Concept Special Risks is a licensed cover holder in Lloyd’s It occupies a dominant market position in the United States and Caribbean Markets for motor yachts, trailers, sailboats and boats covering both the private/pleasure and charter sectors;

… completed its acquisition of Centauri Specialty Insurance in February. Centauri companies (Centauri Specialty Insurance Company and Centauri National Insurance Company) are headquartered in Sarasota, Florida Service of independent agents and brokers in 10 states: AlabamaAnd FloridaAnd HawaiiAnd LouisianaAnd MassachusettsAnd MississippiAnd North CarolinaAnd OklahomaAnd South Carolina And Texas. Centauri companies also offer private flood insurance in FloridaAnd Hawaii, And South Carolina;

… completed the acquisition of the Oklahoma Property and Casualty Insurance Company in February. keep applying Oklahoma Company writings for recognized business in the south-central United States;

…refocused its Texas Insurance subsidiary in February for E&S Lines nationwide;

…acquired Florida Accident Insurance in March; Formerly Ashmere Insurance Company, newly renamed, Foot. Lauderdale– A based insurance company licensed in 41 states;

… obtained insurance renewals for nearly 16,700 policies via AlabamaAnd Louisiana And South Carolina From Gulfstream Property and Casualty Insurance and Gulfstream Select in February;

…acquired the Alaska Timber Insurance Exchange in the fourth quarter. ATIE is a file Alaska– the mutual exchange at his residence, organized to write the non-assessable workers compensation policies in that state, and is due to finalize his conversion from a mutual insurer to a stock insurer, as approved by the regulators;

… Established Applied Financial Lines, after acquiring StarStone core products in December 2020, with operations beginning in early January. Applied moved to the European Union and Middle east For specialized business from Paris And Cologne Underwriting offices for several specialist lines including Professional Indemnity and D&O through an extensive wholesale broker and network of local retail agents throughout the European Union, Israel and other countries in the region.

… Established Applied Insurance Agents who specialize in November 2020, with the launch of a new redundant and redundant injury unit in January to focus on public liability, redundant liability and workers compensation New York Construction;

…Applied Underwriters launched Aerospace in November, joining forces with former PartnerRe D&F Space team (both live and optional). The new operation is based in Washington DC With PartnerRe that provides treaty reinsurance and other services as the enterprise expands;

… opened the Specialized Applied Infrastructure in Construction and Risk in November, the company’s new infrastructure and construction practices, providing alternative markets and options for a wide range of businesses exposed in the construction sector;

… Applied Warranty & Insurance Services which acquired Generali Group’s American specialty lines division in June, including Generali Warranty Services, LLC, is a fully licensed committed company. The Applied Insurance Company has consolidated the specialist line business into the newly formed Applied Insurance and Assurance Services division;

… established groups of applied fine arts in December 2020, which began operations in 2021 to create the pre-eminent global provider of coverage and risk management solutions for fine arts, jewelry, collectibles and collectibles;

… Expanded D&O operations in January under Applied Financial Lines in New York To provide a range of D&O coverages in the United States; And

… forged a unique partnership with Demotech in May to provide special coverage for up to 400 financially sound insurers, rated by Demotech, a major US insurance rating agency. Through the Custom Applied Program, Demotique-rated carriers are empowered to secure required canopy and excess coverage, providing a strong competitive advantage for insurers to package and sell their essential coverages for small business insurance.

In addition, Applied and its employees have received more than 30 awards for excellence in a variety of fields. Of particular note is the national honors series that was awarded to the company’s production and marketing teams for obtaining 25 unprecedented awards for creativity and its results in digital, print and direct mail campaigns implemented for Al-Tabariah and its various units and initiatives. In parallel, Applied Insurers have continued to excel for their long-standing leadership in workers compensation insurance, claims, employment practices, and the work environment.

Among Applied’s awards for excellence in insurance aspects are: Applied Claims User Interface Performance Award; Top Workers Compensation Insurance Corporation (Insurance Company of America); and Top Insurance Workplace (Insurance Business America).

Marketing Achievement Awards include: Three Advertising Study Awards with 1st place/highest score for outstanding reader response as measured against all other ads (Business Insurance, Insurance Journal, Independent Agent); American Business Award; graphic design United States of America an award; Hermes Platinum Creativity Award; Insurance Marketing Communications Association (IMCA) Award; Audiovisual Gold Award (AVA); dotCOMM Platinum Award; and more than 20 other awards including eight senior awards from the Association of Marketing and Communications Professionals.

For more information contact: Ryan Girding, Public Relations, at +1 (913) 602-8531 or at press@auw.com.

Applied Underwriters® is a global risk services company that helps businesses and individuals manage uncertainty through business, insurance and reinsurance services. As a company, Applied Underwriters stands out for its innovative approach to customer care and its strength Economic strength. Applied Underwriters operates extensively throughout the US, UK and EU Middle east. Its operational headquarters are located in Omaha, Nebraska.

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