AEU : Everything you need to know

The American Equity Underwriters, Inc. (AEU) is the program administrator of the American Longshore Mutual Association, Ltd. (ALMA). The ALMA is a group self-insurance fund authorized by the US Department of Labor to provide coverage for the liabilities of its members under the United States Longshore & Harbor Workers’ Compensation Act.

Brief history of AEU

AEU was originally a wholly owned subsidiary of a major US-based maritime service company. At a time when insurance companies were steadily increasing costs while decreasing services that would help control those costs, AEU operated under a mutual structure. This was designed to protect and strengthen its membership rather than serve its stockholders.

In 1997, ALMA was founded, with AEU providing administration services, including claims handling, loss control, and underwriting. As ALMA grew, AEU added longshore consulting and leadership training to its list of services.

Products & services of AEU

AEU offers the following coverages to its members:

• United States Longshore and Harbor Workers’ Compensation Act (USLH&H)
• Outer Continental Shelf Lands Act
• Maritime Employers’ Liability (MEL)
• Defense Base Act
• State Act programs in conjunction with the coverages listed above

Leadership at AEU

AEU is led by a team of seasoned professionals with extensive maritime industry experience: 

Adele Hapworth – chief executive officer

Hapworth joined AEU in 2007. She serves as the company’s CEO. Prior to this, she worked at the energy and marine division of McGriff, Seibels, & Williams. Hapworth also serves on the board of directors of Goodwill Easter Seals of the Gulf Coast. Before entering the insurance industry, she worked in strategy consulting. She earned her bachelor’s degree in commerce from the University of Virginia.

Holly Chapman – chief financial officer

Chapman is the CFO at AEU. She joined the company in 2004. Prior to this, she worked in finance at Inchcape Shipping Services, Inc. and Norton Lilly International. Chapman received her bachelor’s degree in business administration from the University of South Alabama, with a major in accounting.

Winchester Thurber – chief commercial officer

Thurber joined AEU in 2012 and serves as its CCO. Before coming aboard, he has held various roles in the maritime industry. These include stints with P&O Nedlloyd and Norton Lilly International. Thurber previously served as a board member for the New York/New Jersey Maritime Association. He earned his bachelor’s degree from the University of Alabama and completed Duke University’s The Fuqua School of Business Executive Education’s Advanced Management Program.

Culture at AEU

AEU has been recognized as one of the Best Companies to Work for in Alabama since 2019. Over the years, it has strived to develop a culture that ensures employee engagement and satisfaction.

AEU believes that happy employees lead to happy customers. That's why it works hard to build a culture that people love coming to work in every day. AEU’s team consists of passionate individuals who believe in the value of collaboration and having fun. Each member works together to help each other succeed and find new and innovative ways to keep pushing the company forward.