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Applied Underwriters Inc. said Monday it has launched a directors and officers division in the U.S. and hired former American International Group Inc. executive Stephen McGill to head up the unit.
Mr. McGill previously served as chief underwriting officer of AIG’s Validus Specialty Group, and prior to that was group head of professional lines at Argo Group International Holdings Ltd.
Omaha, Nebraska-based Applied Underwriters said the D&O division will be based in New York and is part of its specialty business Applied Financial Lines Ltd. It will provide a range of D&O coverages in the U.S.
“Our initial target business will focus upon D&O liability, both primary and excess. Over time we will add miscellaneous professional liability, and other professional liability segments, including architects and engineers, accountants, agents and brokers, and lawyers,” Mr. McGill said in a statement.
In December, Applied Underwriters launched the international division of Applied Financial Lines, based in Paris and headed by Jeroen Claesen. This followed its acquisition of the renewal rights to StarStone U.S. Inc.’s financial lines book of business. Mr. Claesen previously had served as regional head of financial lines at StarStone.
Applied Underwriters Inc. has agreed to buy Sarasota, Florida-based insurer Centauri Insurance Co., the Omaha, Nebraska-based insurer announced Friday.