Applied Underwriters Forms EU Subsidiary for Specialty Small business in Europe, Center East

Omaha-based insurance provider Used Underwriters Inc. announced it has formed Utilized Monetary Strains Ltd., a new European subsidiary, which will function from Paris and Cologne.

The new firm will underwrite quite a few specialty lines, like professional indemnity and directors and officers, in the European Union and in the Middle East.

Utilized Money Traces will function with a extensive wholesale broker and community retail agent network in the course of the EU, Israel, and other nations around the world in the region.

The announcement follows latest information that Used Underwriters has acquired the renewal rights to StarStone’s economical traces reserve of enterprise, which it reported will deliver a strong foundation for the planned expansion and progress.

“Our strategic options simply call for enlargement into the EU and Middle East marketplaces with a combination of the products mix we have secured via the StarStone acquisition, the selecting of top executives, and the situating of core underwriting team in offices across the continent, beginning with Paris and Cologne,” said Steve Menzies, CEO of Utilized Underwriters, in a assertion.

Jeroen Claesen has been appointed to guide Used Monetary Traces, functioning from the company’s Paris office where by the enterprise is headquartered. Claesen experienced served as head of economic strains for StarStone and has had an in depth insurance policies vocation with Catlin and other foremost firms.

“We will improve the business substantially, intensifying our interactions with the brokerage local community and refining our solution choices and services, with the proven expertise that Used Underwriters delivers to the equation,” said Claesen.

Supply: Applied Underwriters Inc.