MS Amlin confirms exit from domestic UK P&C classes
~Product lines include Corporate Property, Real Estate, Casualty and Package Binders~
MS Amlin, the global (re)insurer, confirms that it will cease underwriting Corporate Property, Real Estate, Casualty and Package Binders through its UK P&C business with effect from 31st January 2020.
This announcement follows the outcome of MS Amlin’s comprehensive underwriting review undertaken earlier this year which identified product lines and operations no longer aligned to its future strategic vision. As part of the new underwriting strategy, MS Amlin will be redeploying its capital and management focus to its three core markets of global reinsurance, global specialty and domestic specialty markets in continental Europe. The decision to exit the above UK classes will not impact MS Amlin’s remaining P&C Lloyd’s business or UK digital platform.
Tom Clementi, CEO of MS Amlin Underwriting Limited, commented: “The decision to place these classes into run-off will enable us to focus on our core markets and ensure we are best placed to serve our clients going forward. The decision aligns with the new underwriting strategy we outlined on 30th September and the steps we have taken to remediate the business since then. We are committed to supporting both our customers and our people through this process.”
For more information please contact the Media team:
Ngozi Emeagi
Tel: +44 (0) 207 746 1097
Ngozi.Emeagi@msamlin.com
FTI Consulting
Ed Berry / Kit Dunford
(0)20 3727 1046 / 1143
About MS Amlin
MS Amlin is a leading global (re)insurer, 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 c.1,800 people in 23 locations worldwide, we deliver a quality service for businesses facing the most complex and demanding risks. Our role places us at the forefront of the Property & Casualty, Marine 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.