Applied Underwriters launches new business unit
Applied Underwriters has announced the creation of a US-based division of its Applied Financial Lines business unit. The new division will provide D&O coverages in the US and will be headed by newly appointed division president Stephen McGill (pictured).
“We have begun to assemble powerful industry resources company-wide and now welcome Steve McGill, an accomplished professional, through whom we look forward to serving a growing number of agents and brokers and their clients in the critical D&O sector,” said Steve Menzies, CEO of Applied Underwriters.
“Our initial target business will focus upon D&O liability, both primary and excess,” McGill said. “Over time we will add miscellaneous professional liability and other professional liability segments, including architects and engineers, accountants, agents and brokers, and lawyers. We have begun to assemble great talent at the front end of the new operation, supported incredibly well by Applied’s substantial operation in Omaha and by its most forward-looking leadership. Utilizing what I believe is Applied’s best-in-class decision-making and collaborative underwriting approach, I am confident that we will have a market force emerging to benefit policyholders, agents and Applied itself as we develop new products and optimum delivery.”
Prior to joining Applied, McGill served as chief underwriting officer at AIG’s Validus Specialty Group. He has also served as group head of professional lines at ARGO, and held positions at XL Catlin, Alexander & Alexander, and Sedgwick.
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The announcement comes on the heels of Applied Underwriters’ Dec. 14 announcement that it had acquired the renewal rights to StarStone’s financial lines book of business.
Applied Financial Lines’ international division will operate from Paris and Cologne, and will underwrite specialty lines in the European Union and the Middle East. The European division will be headed by Jeroen Claesen.