Applied Underwriters Names John Black Executive Vice President, Applied Specialty Underwriters, to Lead Expansion into Middle Market Surplus Lines

Applied Specialty Underwriters sets expanded underwriting for broad range of exposures on both primary and excess basis nationwide through network of wholesalers

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Applied Underwriters

Jan 19, 2021, 09:00 ET

OMAHA, Neb., Jan. 19, 2021 /PRNewswire/ -- Steve Menzies, CEO of Applied Underwriters today announced the appointment of John Black, CPCU to Executive Vice President of the Company's newly expanded division, Applied Specialty Underwriters. Mr. Black, an accomplished underwriter with more than 35 years of experience, will focus on middle market E&S casualty risks, with primary and excess property planned for introduction in 2021.

According to Mr. Menzies, Applied Specialty has begun to engage an increasing number of wholesalers who, in turn, will work with independent agents and brokers to provide the Company's innovative products and services to businesses: "We have seen Applied Specialty take off handsomely, as the current market's appetite for expertise and depth in this sector grows aggressively. With the naming of John Black and the other professionals at Applied Specialty, we are demonstrating our commitment to leadership in this market sector, for agents and brokers."

John Black, Sr., CPCU served most recently as CUO of CM Vantage Specialty, an E&S insurer which he co-founded. Mr. Black has held leadership roles at regional, national, and international insurers in underwriting, marketing, compliance, IT, and product management functions, for both admitted and specialty insurers. He will work from Applied Specialty's New York office.

For further information visit specialty.auw.com or contact: Ryan Gerding, Public Relations, at +1 (913) 602-8531 or at [email protected].

About Applied Underwriters (www.auw.com)

Applied Underwriters® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance, and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates throughout the U.S. from its operational headquarters in Omaha, Nebraska.

Ratings issuer AM Best has affirmed the Financial Strength Rating of 'A' (Excellent) and Long-Term Issuer Credit Ratings of 'A' of five companies collectively referred to as North American Casualty Group (NAC). The companies with the affirmed ratings are: California Insurance Co. (CIC), Continental Indemnity Co., Illinois Insurance Co., Texas Insurance Co. and Pennsylvania Insurance Co. NAC's risk- adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), is assessed at the strongest level, and AM Best expects it to remain at a similar level in prospective years. Balance sheet strength also benefits from the company's strong liquidity profile, conservative investment strategy, and disciplined reserving. The ratings agency said NAC has a track record of "strong operating earnings, underpinned by its robust underwriting performance" and demonstrated by a five-year average return on equity ratio of 13.1% and a combined ratio averaging 75% (2015-2019).

SOURCE Applied Underwriters