The announcement marks the start of Amboss’ operations in Zurich and Amsterdam. Amboss has gained approval from Lloyd’s of London and Lloyd’s Insurance Company Brussels, enabling the company to conduct business in both the EEA and non-EEA regions as an approved coverholder.
Amboss will manage all legacy business written by the Zurich branch of Oilfield Insurance Agencies. Additionally, the entire Oilfield onshore energy team in Zurich will join Amboss as part of the transition.
Amboss chief underwriting officer, Colm Kelly, said: “We are delighted and very excited to embark on this new journey. As part of our commitment to our valued clients and business partners, we can assure everyone that there will be no change in day-to-day operations. Amboss remains dedicated to upholding the highest standards and will continue to collaborate closely with our business partners as we have done for many years.
“Without the fantastic support of Alan Smith of Oilfield, we would never have reached this point. We also wish to thank all our brokers and mutual clients who believed in us, and our carriers who have facilitated our growth to a position of relevance. We look forward to engaging further to find mutually sustainable solutions for all parties.”
The Amboss underwriting team has 80 years of combined experience in onshore energy portfolio underwriting and claims handling, led by Kelly with over 30 years in the field. Amboss targets business in the midstream and downstream energy sectors, aiming to support clients transitioning to a carbon-neutral future. Backed by over $40 million in Lloyd’s security, Amboss plans to expand its portfolio and explore new business lines.
Source: Amboss
