The history of MS Amlin
It is possible to trace the origins of our company all the way back to 1615 when Sumitomo was founded. Some historians have suggested that Sumitomo is the oldest recorded business to have been formed anywhere in the world. The founding father was called Masatomo Sumitomo who opened a book and medicine shop in Kyoto.
Mitsui was founded by Mitsui Takatoshi, the son of a sake brewer, who opened a number of kimono shops in Kyoto and Edo which today is known as Tokyo. Mitsui was a visionary and was the first recorded person to sell the kimonos 'off the shelf' at affordable prices for the masses. Until Mitsui opened his doors, kimonos were reserved for the very wealthy customers as they were all made-to-measure. He is credited in the history books as being the first trader to use marketing techniques such as handing out flyers and offering potential customers the use of branded umbrellas on rainy days. The success of these and subsequent shops allowed him to expand into money lending and other financial services.
Mitsui Bank was formed.
The Sumitomo Marine & Fire Insurance Co., Ltd was formed – the Group’s first entrance into insurance.
Sumitomo Bank was formed.
The Murray Lawrence part of the group can trace its origins back to 1903 when one of its constituent Lloyd’s syndicates, the K J Coles Syndicate 40, was founded.
A key constituent of Murray Lawrence was the Non-Marine Harvey Bowring Syndicate 362, which was established at Lloyd’s in 1937.
Murray Lawrence and Partners was formed as a management buyout, initially managing 14 Lloyd's syndicates in all, including Syndicates 40 and 362, under the leadership of Mr Murray Lawrence (who was later Chairman of Lloyd’s).
Amlin plc was first incorporated and floated on the London Stock Exchange, as Angerstein Underwriting Trust PLC, in 1993 to underwrite at Lloyd’s from 1 January 1994.
On 28 September the merger of Angerstein's and Murray Lawrence was completed and Angerstein changed its name to Amlin plc. Richard Keeling became Chief Executive and Roger Taylor, a former Chief Executive of Sun Alliance, became the new independent non-executive Chairman. Lord Stewartby, who had joined the Angerstein board on the merger with Delian Lloyd’s, became non-executive Deputy Chairman. John Stace became Deputy Chief Executive and Charles Philipps Finance Director. The market valued the merged entity at approximately £260m on the first day of trading.
Mitsui Sumitomo's Lloyd's vehicle, Syndicate 3210, was the first Japanese syndicate to be established in Lloyd’s.
Sumitomo Marine and Mitsui Marine merged to become Mitsui Sumitomo Insurance.
Amlin Bermuda, a specialist reinsurer capitalised at $1bn and Amlin’s first underwriting venture outside Lloyd’s, was launched.
Amlin Singapore was formed under the Lloyd’s umbrella.
Acquisition of Anglo-French Underwriters, the largest Lloyd’s approved coverholder in France.
Amlin acquired the Benelux commercial insurer, Fortis Corporate Insurance, renamed Amlin Corporate Insurance, for €350m. It also acquired Crowe Livestock.
Mitsui Sumitomo integrated with Aioi Nissay Dowa to become the MS&AD group. The establishment of Amlin Re Europe, a European reinsurer based in Switzerland, incorporated as Amlin AG, with the existing successful Amlin Bermuda operation becoming a branch.
Amlin acquired both the managing general agent JR Clare and the large yacht specialist Lead Yacht Underwriters.
Start-up of Amlin Reinsurance Managers Inc in the US.
Acquisition of RaetsMarine by Amlin provides a broader marine insurance offering.
Opened Amlin offices in Miami and Dubai. Established a presence in Shanghai.
Amlin opens an office in Hong Kong.
MS Amlin is created through the acquisition of Amlin by Mitsui Sumitomo, part of the MS&AD group.