MS Amlin, the Lloyd’s re/Insurer, and its sister company, Mitsui Sumitomo Insurance Co. (Europe) (MSIG UK), announced the expansion of their London market footprint with the launch of a new dual-stamp underwriting capability.
The solution allows MS Amlin underwriters to write risks using both their existing Lloyd’s stamp and MSIG UK’s company paper, providing brokers with increased capacity and a single access point to both markets.
The initiative is part of a strategy to leverage the scale and financial strength of parent company Mitsui Sumitomo Insurance Co. Ltd. (MSI), which last year outlined plans to expand the capacity of its UK subsidiaries.
Initially, the dual stamp solution will be available across natural resources, trade credit & political risk and accident & health lines, giving underwriters the authority to write individual risks across one, or both, capacity sources.
The companies will target lead and follow opportunities in the open market, with plans to extend the capability to line slips and binders as operations mature. As well as providing a single gateway to both the Lloyd’s and company markets, the solution will offer brokers a seamless and consistent claims service.
“We’re committed to driving growth by exploring innovative ways to distribute our products, access new clients, and bring more business into the London market,” commented Andrew Carrier, CEO of MS Amlin, in a statement.
“This solution simplifies trading for brokers, providing a single gateway to secure capacity in the Lloyd’s and company markets, broader coverage options, and greater flexibility over risk placement,” Carrier added. “By partnering with MSIG UK, we can leverage our combined reach to unlock new markets and underwriting opportunities, creating greater value for our business and brokers.”
“There are substantial advantages in harnessing MSI’s global scale, strength and market presence. By working closely with MS Amlin, we can tap into new growth opportunities and expand our market reach,” according to Martyn Rodden, CEO of MSIG UK.
“This joint solution will give brokers seamless access to two balance sheets and help them to place their client’s risks more efficiently. It also opens up new client groups – such as some banks on the trade credit side – which might not traditionally use Lloyd’s,” Rodden said.
“Together with MS Amlin, we remain committed to developing tailored solutions that make it easier for brokers to find the coverage their clients need,” he continued.
About MS Amlin Underwriting Ltd.
MS Amlin Underwriting Ltd. is part of the global top-10 insurance group MS&AD, with operations in the Lloyd’s of London, Middle East and Asia markets.
Source: MS Amlin
Topics New Markets London Mississippi
Was this article valuable?
Here are more articles you may enjoy.
Fla. House Subcommittees Vote to Repeal PIP Law, Pass Two Other Insurance Bills 
Iowa Man Who Falsified Rolex Watch Claim Sentenced to 10 Years in Prison 
Verisk Buy of Nasdaq Subsidiary Gains Access to Hundreds of Catastrophe Models 
Macy’s to Claw Back Executive Bonuses Due to Accounting Scandal 
