MS Amlin confirms exit from aviation insurance market
MS Amlin, the leading global (re)insurer, confirms that it will be exiting the aviation insurance market, effective from 14th of October when it will cease underwriting aviation insurance renewals or new business.
This change excludes the aviation hull war portfolio which will continue to be underwritten by the existing War team.
MS Amlin’s decision to exit the aviation insurance market follows its recent announcement of the results of a comprehensive long-term strategic review. This decision underpins MS Amlin’s strategy and will enable it to devote more capital, investment and management time on areas of focus to support its growth ambitions.
The aviation insurance portfolio’s runoff will be managed internally rather than outsourced under a Reinsurance To Close (RITC) arrangement. Simon Beale, MS Amlin CEO commented, “The run-off of the aviation insurance book will allow us to focus our attention on our new underwriting strategy and build on the progress we have made in restoring profitability.
“In order to ensure continuity of service for our clients we will manage the run-off ourselves.”
“We are committed to supporting both our customers and our people through this change.”
For further information, contact:
Global PR & Media Lead
Tel: +44 (0) 207 746 1097
Ed Berry / Kit Dunford
(0)20 3727 1046 / 1143
About MS Amlin
MS Amlin is a leading insurer and reinsurer, part of the global top-10 insurance group MS&AD, with operations in the Lloyd’s, UK, Continental European and Bermudian markets. With a 300-year record and more than 2,100 people in 26 locations worldwide, we deliver continuity for businesses facing the most complex and demanding risks. Our role places us at the forefront of the Property & Casualty, Marine & Aviation and Reinsurance markets.
We are experts in underwriting, with both technical capability and deep knowledge of the areas we insure. Our claims service aims to set the industry reference point for quality, with efficient, fair and timely claims management.