Applied Continues Niche Lines Expansion, Launches Applied Surety
Top surety executive, Joshua Betz, named to head Texas based global enterprise
Applied Underwriters continues its niche sector expansion with the latest in its series of acquisitions and introductions, launching Applied Surety Underwriters to be based in Houston and serve a worldwide clientele. Since 2019, Applied has acquired companies and books of business in the warranty, collectibles and other specialized markets.
Applied Chairman, Steve Menzies, announced the naming of seasoned sector leader, Joshua Betz , top head the division, citing his well recognized executive leadership in the surety business for 25 years: “We have placed Joshua Betz at the head of this new division for a number of reasons, notably the fact that we are accepting business already from sources across the globe that require a level of exsperise that he brings to our team’s processes. Moreover, Joshua has had great success in developing even the barest of de novo start ups with significantly less support than Applied will provide.We welcome him to the faculty of leading executives who power Applied in the manner of a think tank that has the resources to act decisively to gain and sustain market share.”
According to Jamie Sahara, President of Applied Underwriters, the surety division will focus upon large, commercial and contractual surety businesses: “We are attracting the business and now, with the addition of the kinds of innovative underwriting approaches Joshua and our team will implement, together with the addition of resources and experienced, talented staff to support large account business, we see substantial growth in the sector for Applied. We are committed to the discipline this 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 our specialty and niche areas.”
Mr Betz stated: “The prospect of joining the Applied faculty, the veritable think tank of top executives in each sector, is most attractive as is the commitment that Applied has made to a disciplined, yet no less aggressive approach to growth in the surety area, one in which I have served for better than 25 years. The entrepreneurial environment engendered by Applied’s top brass will serve to help attract more “A” level talent and to produce the kind of profitable development in which I played a key role and which, with resulting low loss ratios, delivered unprecedented value to every participant in the surety pipeline. I am delighted to be part of Applied.”
Prior to joining Applied, Mr. Betz was President of Argo where he held leadership roles for 12 years and, prior to that, created one of the top 10 surety operations in the world from its start up phase, garnering the respect of agents, clients, reinsurers and underwriting associates for drive and innovation.
