Amboss Underwriting Assumes Oilfield Insurance Agencies’ Downstream Portfolio
2 mins read

Amboss Underwriting Assumes Oilfield Insurance Agencies’ Downstream Portfolio

Zurich-based Lloyd's coverholder Emboss Underwriting has taken over the Zurich branch's portfolio of oilfield insurance agencies.

Effective April 17, 2024, this announcement marks the beginning of Ambos's operations in Zurich and Amsterdam. Ambos has received approval from the insurer Lloyd's of London & Lloyd's of London, Brussels, allowing the company to write business as an approved coverholder in both the European Economic Area (EEA) and non-EEA areas. (The EEA includes the EU countries as well as Iceland, Liechtenstein, and Norway.)

Ambos will be responsible for all legacy business underwritten by the Zurich branch of oilfield insurance agencies, and the entire oilfield onshore energy team in Zurich has joined Ambos.

“We are delighted and very excited to embark on this new journey. As part of our commitment to our valued customers and business partners, we can reassure everyone that there will be no changes to day-to-day operations,” commented Colm Kelly, Chief Underwriting Officer at Ambos.

“Without the fantastic support of Alan Smith of Oilfield, we would never have got to this point. We would also like to thank all of our brokers and mutual clients who trusted us, and our carriers who have facilitated our growth to the position of relevance. “We look forward to further engagement to find mutually sustainable solutions for all parties,” Kelly added.

Led by Kelly, who has over 30 years of experience in the sector, the Emboss underwriting team brings with him extensive expertise in underwriting onshore energy portfolios, with over 80 years of collective experience in underwriting and claims handling.

Emboss's targeted business lies across the full spectrum of midstream and downstream sectors of the energy industry, with a particular focus on supporting customers through the energy transition to a more carbon neutral future. Backed by the security of over US$40 million from Lloyd's, Ambos will continue to expand and grow the portfolio, while exploring further lines of business for diversification.

EEA business operations are managed through a wholly owned subsidiary, Emboss Underwriting BV, based in Amsterdam. Non-EEA business activities are supervised from the head office in Zurich.

Source: Emboss Underwriting

underwriting agencies

interested in agencies,

Get automatic alerts for this topic.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.