Mr. Sahara stated that he and the Company's Chairman, Steve Menzies, used personal and professional relationships to form the partnerships in support of the Company's Applied Fine Art & Collections division, which provides specialty P&C coverages to ultra-high-net-worth clients packaged and styled within its consumer-facing Treadwell luxury brand. "The high-net-worth space in personal lines property and casualty—and what this means has really broadened out over the last five years—has consistently been productive for underwriters and investors," said Mr. Sahara. However, the majority of activity in this segment has been at the lower end. We're instead focusing on the ultra-high-net-worth individuals who have become increasingly underserved as a result of constant corporate reshuffling."
"We launched Applied Fine Art & Collections and Treadwell at the beginning of 2021 with the goal of building it into the preeminent brand in the space," Mr. Sahara continued. We've seen some solid premium and client growth in the first half of 2022."
"Luke Donald and Michael Andretti both exemplify some of the fundamental values we share: ingenuity, innovation, hard work, precision, and the desire to win," Mr. Menzies said of the professional sports figures and Applied Underwriters.
"But it goes much deeper than that: both professional golf and auto racing revolve around a single player in a high-stakes, win-or-die competition." There is no subjective judging, and no social media points are awarded. While each competitor is partnered with a support team whose performance is critical to the contest's success or failure, in the end, it is the greatness of one individual's desire to win and the extent of their ability to lead that wins."
Mr. Ron Fiamma, President of Applied Fine Art & Collections and a twenty-plus year veteran of the high-net-worth insurance industry, provided some consumer insights: "We created Treadwell as a consumer lifestyle brand catering to a very discerning clientele." Treadwell's name expresses our appreciation for our clients' desire to move through life with style and grace. Our job is to maintain that quality of life by conducting business in accordance with each of our clients' individual vision and focusing on high-touch customer service, discretion, and dependability."
"Our fascination with greatness—the same greatness that drives Luke Donald and Michael Andretti to victory—is what we share with our Treadwell clients and their agents," Mr. Menzies concluded. The ultimate determinant of true greatness is how any player comports themselves, whether under the adversity of an unfortunate loss or an intractable losing streak, or whether carried along by the momentum of a seemingly unstoppable run of victories."