London, UK – July 9, 2018 – Euclid Transactional, LLC (“Euclid Transactional”), the New York based subsidiary of Euclid Insurance Services, Inc. (“Euclid”), announced today that it has launched a UK subsidiary to offer transactional insurance underwriting and claims handling solutions throughout Europe, the Middle East and Africa (“EMEA”). The new London-based agency will be managed by seasoned underwriters Kit Westropp and Carl Christian Rösiö who have over 20 years of experience working on M&A transactions and will join as principals. Swiss Re Corporate Solutions and Aspen Insurance have authorized the Euclid Transactional EMEA team to act as their managing general agent offering warranty & indemnity, tax liability and contingent liability coverages of up to $45 million of limits per deal on a primary or excess basis for risks across all industry sectors.
Jay Rittberg, Managing Principal of Euclid Transactional commented, “We are thrilled to join forces with these market-leading underwriters and top-quality insurance carriers to offer industry-best service to EMEA clients. It is an honor to have Swiss Re Corporate Solutions and Aspen Insurance continue to have confidence in us to underwrite and handle claims on their behalf, and we are also expecting to add another highly rated international insurer to the EMEA program in the near future to expand capacity to $70 million of limits per deal.”
Kit Westropp, Managing Principal of Euclid Transactional EMEA noted, “We are very excited to join such a fast-growing and entrepreneurial company which shares our strong commitment to finding creative solutions for clients and customer service. We look forward to expanding the capabilities of Euclid Transactional’s insurance carriers in the M&A space into EMEA.”
“Over the last two years, Euclid Transactional has provided best-in-class service and solutions to our clients in North America on over 600 fast-moving M&A deals; we are pleased to extend the offering to clients in EMEA.” stated Philippe Aerni, Head of Financial & Professional Services for Swiss Re Corporate Solutions.
Zac Clammer, Executive Vice President, Chief Management Liability Officer, Aspen Insurance, added: “With the expansion into EMEA, the Euclid Transactional global team brings a wealth of experience and expertise and we are delighted to partner with such a highly-respected group of industry professionals who share our customer-centric philosophy.”
John N. Colis, President and CEO of Euclid commented, “The new EMEA operation represents another exciting step in Euclid’s overall plan for program growth and expansion. We are so pleased to add Kit and Carl Christian to the Euclid Transactional platform. These outstanding underwriters and organizations appreciate the execution required to succeed in the world of M&A.”
About Euclid Transactional, LLC
Euclid Transactional, LLC is a managing general agency specializing in the underwriting of representations & warranties, tax liability, contingent liability and other transactional insurance coverages. Owned and operated by a team of seasoned underwriters with more than 50 years of M&A and transactional liability experience and a part of Euclid Program Managers, Euclid Transactional has built a reputation for delivering best-in-class service, execution and claims handling on insureds’ most important M&A deals.
For information on Euclid Transactional, visit www.euclidtransactional.com.
Inquiries can be directed to Jay Rittberg (USA 646-517-8808, jrittberg@euclidtransactional.com); Kit Westropp (UK +44 203 950 6154, kwestropp@euclidtransactional.com); or Carl Christian Rösiö (UK 44 2039 506156, ccrosio@euclidtransactional.com)
About Euclid Insurance Services, Inc.
Founded in 1952, Euclid Insurance Services, Inc. is a program administrator for specialty property/casualty insurance programs operating under the names Euclid Public Sector, Euclid A&E, Euclid Specialty Managers, Euclid Executive Liability Managers, Euclid Financial Institution Underwriters, Euclid Enviant and Euclid Transactional and functions as a general agency distributing employee benefit and life products, under the name Euclid Managers. For more information about Euclid Insurance Services, Inc., please visit www.euclidprograms.com.
About Swiss Re Corporate Solutions
Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Its innovative, highly customised products and standard insurance covers help to make businesses more resilient, while its industry-leading claims service provides additional peace of mind. Swiss Re Corporate Solutions serves clients from over 50 offices worldwide and is backed by the financial strength of the Swiss Re Group. For more information about Swiss Re Corporate Solutions, visit corporatesolutions.swissre.com or follow us on linkedin.com/company/swiss-re-corporate-solutions or Twitter @SwissRe_CS.
About Aspen Insurance
Aspen Insurance is the insurance segment of Aspen Insurance Holdings Limited (“Aspen”). Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Ireland, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. For the year ended December 31, 2017, Aspen reported $12.9 billion in total assets, $6.7 billion in gross reserves, $2.9 billion in total shareholders’ equity and $3.4 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of “A” by Standard & Poor’s Financial Services LLC, an “A” (“Excellent”) by A.M. Best Company Inc. and an “A2” by Moody’s Investors Service, Inc.