American Atlantic Assurance Company to commence underwriting on January 1, 2025

Applied Underwriters announced the fully operational opening of the American Atlantic Assurance Company’s ‘A-‘ rated (AM Best) underwriting facilities effective January 1, 2025. The company is part of the North American Casualty group and will provide property and casualty coverages throughout the European Union.

The American Atlantic Assurance Company is headquartered and domiciled in Malta.

“American Atlantic Assurance will begin operations and immediately pick up all new and renewal business in 2025 from our financial lines portfolio of management liability and professional indemnity business. Throughout 2025, the company will facilitate our New York and London based growing global book of political risk insurance coverages that focus on property damage, business interruption, and liability. We will also deepen our collaboration with Applied Credit Underwriters in London, a growing underwriter of structured credit, contract frustrations, and political risks. We are diligently deploying resources to support our global partners’ burgeoning businesses in fulfillment of our long-term strategic growth blueprint. Our outlook for the next few years, for nearly all of our lines of business worldwide, is very optimistic.” – Steve Menzies, Chairman and Founder of Applied Underwriters.

“We have already initiated steps to ensure a seamless transition for our existing customers and expect dramatic improvements overall that come from the vantage point of long-term stability, aligned strategic values across platforms, and of a creative management organization. I foresee excellent delivery of resources for our customers in 2025 and beyond.” – Jeroen Claesen, President & Chief Underwriting Officer for Applied Financial Lines in the EU and Middle East.