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TheStreet Open House

XL Group And American Specialty Insurance & Risk Sign Agreement To Serve Sports & Entertainment Industry

Stock quotes in this article: BRO, XL

EXTON, Pennsylvania, March 11, 2014 /PRNewswire/ -- XL Group's North America Programs business and American Specialty Insurance & Risk Services, Inc., today announced a new joint underwriting agreement to offer insurance programs for sports and entertainment industries.

According to Quinnon "Pete" Purvis, President of XL Group's North America Programs unit, "American Specialty is a well-established leader when it comes to insuring a wide variety of sports and entertainment businesses.  With this new arrangement, we gain their industry expertise and underwriting experience and have the opportunity to extend our capabilities and quality coverage to new industries."

"Sports and entertainment businesses have unique exposures," said Tony Wittwer, President of American Specialty.  "Our programs are tailored to meet the specific insurance and risk management needs of clients in the sports, motorsports, event, and entertainment industries. With XL's depth of team, resources, and commitment to programs, it is a true pleasure to partner with them.  Like American Specialty, XL is a company that values industry expertise, underwriting talent, and strong business relationships."         

XL Group's North America Program business teams up with program administrators like American Specialty to underwrite, market, and administer insurance products targeted at niche markets or classes of business.  Through its relationship with the XL Group of insurance companies, American Specialty provides property and casualty insurance programs for clients in the sports, motorsports, event, and entertainment industries, including: fairs, festivals, sports complexes, convention/civic centers, special events, motorsport race teams and tracks, professional and amateur sports teams and associations, stadiums/arenas, amusement parks, family entertainment centers, and pari-mutuel racing facilities.

About American Specialty Insurance & Risk Services, Inc. 

Founded in 1989, American Specialty is a wholly-owned subsidiary of Brown & Brown, Inc. (NYSE: BRO). Brown & Brown is ranked by Business Insurance magazine as the seventh largest independent insurance intermediary in the U.S.  American Specialty specializes in insurance and risk services for the Sports and Entertainment industry. Over 50 niche programs are offered on a nationwide basis to the Professional Sports, Amateur Sports, Motorsports, and Entertainment industries.  To learn more, visit amerspec.com

About XL Group plc's Insurance Operations

XL Group plc's insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit xlgroup.com/insurance

About XL Group plc

XL Group plc (NYSE: XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.   XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlgroup.com

XL Group is the global brand used by XL Group plc's insurance and reinsurance subsidiaries.

SOURCE XL Group

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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