MS Amlin enters agreement to acquire Phoenix Underwriters
MS Amlin, the global specialty insurer, is pleased to announce that it has entered into an agreement to acquire 100% of the equity of Phoenix Underwriters, a Hong Kong based Managing General Agent specialising in yachts, super yachts and commercial craft.
The acquisition forms a key part of MS Amlin’s strategy to grow its Marine business and provide its clients with a comprehensive range of marine insurance products across the Asia Pacific region.
Phoenix Underwriters was established in 2001 by Colin Sims and currently operates with four employees as a standalone agency, handling underwriting, claims, accounting and administrative functions.
Simon Clarke, Chief Executive Officer of MS Amlin Asia Pacific, said: “We have known and supported the Phoenix team since the business was founded. The acquisition continues our international strategy of adding marine products to our core portfolio and providing our clients with a broader marine insurance offering. Everyone at MS Amlin is very much looking forward to working with Colin’s team and welcoming them to the group.”
Colin Sims, Managing Director of Phoenix Underwriters Ltd, commented: “Having worked with MS Amlin for a number of years, it was clear that both firms share the same values of client service and professional standards. We look forward to joining the team.”
The Phoenix team will integrate into the MS Amlin Hong Kong office during 2017.