Applied Underwriters Continues Specialty Lines Expansion with Launch of Applied Surety Underwriters
Top surety executive, Joshua Betz, named to head global operation
OMAHA, Neb., March 21, 2022 /PRNewswire/ -- Applied Underwriters continues its specialty lines expansion with the latest in its series of acquisitions and introductions, today launching Applied Surety Underwriters to be based in Houston and serve a worldwide clientele. Since 2019, Applied has created operations and acquired niche books of business in the warranty, collectibles and other specialized markets. This new division will focus on large, commercial and contract surety business worldwide.
Jamie Sahara, President of Applied Underwriters, announced the naming of seasoned sector leader, Joshua Betz, as President of Applied Surety Underwriters, citing his well-recognized executive leadership in the surety business for 25 years: "We have placed Joshua Betz at the head of this new practice for a number of reasons, notably the fact that we are accepting business already from sources across the globe that require a level of expertise that he brings to our team's processes. Moreover, Joshua has had great success, with significantly less support than Applied will provide, in developing de novo startups and managing profitable enterprises for long term value and profitability."
Applied's Chairman, Steve Menzies, stated, "We welcome Joshua to our extraordinary team of leading executives who power Applied. Joshua joins both an entrepreneurial tradition and an organization with the depth of resources to act decisively and respond timely to market place opportunities."
Mr. Menzies continued, "We are committed to the long-term discipline the surety sector requires and dedicated to the success of the producers who work with us for their clients' best interests, all the while taking the long view that we can create immense value in these specialty, niche areas."
Mr. Betz stated, "The prospect of joining Applied Underwriters, with its talented, entrepreneurial, top executives in each sector, is most attractive as is the commitment that Applied has made to a careful, yet no less aggressive approach to growth in the surety area, one in which I have served for better than 25 years. The dynamic environment engendered by Applied's founders will serve to help attract more top-level talent and to produce the kind of profitable development in which I have played a key role, and, with resulting low loss ratios, have delivered unprecedented value to every participant in the surety pipeline. I am delighted to be part of Applied."
Prior to joining Applied, Mr. Betz spent the last 14 years as President of Argo Surety where he created one of the top ten surety operations in the world from its startup phase, garnering the respect of agents, clients, reinsurers and underwriting associates for his drive and innovation. Prior to that time, Mr. Betz held various leadership roles in the surety space managing large commercial and contract surety clients at Travelers, CNA, and Reliance Surety.
For further information 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 widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska.
SOURCE Applied Underwriters
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