New Japanese ownership is having a positive effect on MS Amlin’s working culture, helping both clients and employees. The company’s global MD for marine and aviation explains how.
I’ve been with MS Amlin for almost 30 years, seeing this company grow from a few small Lloyd’s syndicates into a huge global insurer. During all that time, the most dramatic change I have seen was last year, when we were acquired by the Japanese insurance group MS&AD. This union has benefitted us immensely, not only, arming us with more financial clout, but also enhancing both our skillset and global reach thanks to our now much more diverse workforce and business portfolio. Traditionally, the London financial sector has been somewhat narrow minded and even blinkered in setting its approach to business and getting the job done; setting its targets, treading the worn but proven route to get there and not considering the value of reappraising or straying far from the tried and tested format.
But now at MS Amlin, influenced by MS&AD, we are actively subscribing to a different style of working culture. Instead of focusing solely on productivity, we are cultivating a more collegiate and inclusive workplace. The reason for this is simple. By encouraging teamwork we believe we can foster a better way of doing business both internally and externally, with, crucially, no loss of efficiency or return.
However, both the Marine and Aviation sectors are currently feeling the impact of soft market conditions. I personally haven’t seen conditions as bad as this since the late 1990s. Good news for clients in the short term but bad if they are looking for continuity and a long-term relationship with their insurers. On top of this the market is dealing with the recent global events such as the Caribbean/USA hurricanes and whilst we at MS Amlin will do all we can to help our clients in their time of need, the market finds itself in an unsustainable situation with regard to current pricing levels. Smaller outfits may survive as long as they are niche, but in general it will be the fittest, largest and most diversified insurers that see it through and ultimately thrive. Fortunately, thanks to long-sighted and strategic forward planning, MS Amlin, falls into this camp.
Examples of the diverse sectors we insure are illustrated in this new magazine you’re holding in your hands right now. We trust you’ve also enjoyed reading about subjects as varied as space travel, adventure, music, fashion, wine and marine exploration.