The company, which holds an ‘A-’ rating from AM Best, will provide property and casualty coverages throughout the European Union.

Headquartered and domiciled in Malta, American Atlantic Assurance will handle new and renewal business from Applied Underwriters’ financial lines portfolio, including management liability and professional indemnity coverage. Additionally, the company will facilitate the growth of Applied Underwriters’ global book of political risk insurance, with a focus on property damage, business interruption, and liability coverage.

Steve Menzies, Chairman and Founder of Applied Underwriters, highlighted the strategic importance of the launch “American Atlantic Assurance will begin operations by taking over all new and renewal business in our financial lines portfolio for 2025. The company will also support the continued growth of our New York and London-based political risk insurance offerings. This includes an expanded partnership with Applied Credit Underwriters in London, focusing on structured credit, contract frustration, and political risks. We are dedicating significant resources to support our global partners’ growing businesses as part of our long-term strategic growth plan. The outlook for all our lines of business worldwide is extremely optimistic.”

Jeroen Claesen, President and Chief Underwriting Officer for Applied Financial Lines in the EU and Middle East, emphasised the seamless transition and future improvements “We have already taken steps to ensure a smooth transition for our existing customers. With long-term stability, aligned strategic values, and a forward-thinking management team, we anticipate significant enhancements to our operations in 2025 and beyond. Our customers can expect excellent delivery of resources and support across all platforms.”

The establishment of American Atlantic Assurance reinforces Applied Underwriters’ commitment to global expansion and delivering innovative solutions for its clients in the property and casualty market.