Amlin Explained

MS Amlin
Type:Private limited company
Foundation:1998
Location:122 Leadenhall Street, London, United Kingdom
Key People:Roger Taylor, (chairman)
Charles Philipps, (CEO)
Industry:Insurance, (Re)Insurer
Revenue:£2,476.4 million (2014)[1]
Num Employees:1,700 in seven countries (2013)
Parent:Mitsui Sumitomo Insurance Group
Homepage:www.msamlin.com

MS Amlin Ltd is an insurer operating in the Lloyd's, UK, Continental Europe and Bermudian markets. Specialising in providing insurance cover to commercial enterprises and reinsurance protection to other insurance companies around the world, MS Amlin's shares were listed on the London Stock Exchange until it was acquired by Mitsui Sumitomo Insurance Group in February 2016.

History

The company was formed on 28 September 1998 through the merger of Angerstein Underwriting Trust and Murray Lawrence Group syndicate (the name was derived by combining 'A' from Angerstein, 'ML' from Murray Lawrence Group and 'IN' from Insurance).[2] However, the oldest part of the business (K J Coles Syndicate) dates back to 1903.[3] In 2008 it bought Anglo French Underwriters[4] and subsequently renamed it as Amlin France in 2010. In July 2009 it acquired Fortis Corporate Insurance for €350m only to be renamed Amlin Corporate Insurance.[5]

On 8 September 2015, it was announced that Mitsui Sumitomo Insurance Group had agreed to buy the firm for £3.5bn.[6] The acquisition was completed in February 2016.[7]

MS Amlin was fined £9.7 million by the Prudential Regulation Authority for risk management failures in September 2022.[8]

Headquarters

As of September 2015, MS Amlin is based at 122 Leadenhall Street.[9]

Operations

MS Amlin is organised as follows:[10]

Financial ratings

The three underwriting platforms within MS Amlin are financially rated separately:[11]

A (Excellent)

A2 (Stable)

A (Stable)

A+ (stable)

Major shareholders

As of January 2014 the major shareholders in Amlin were:[12]

The above gives the shareholder name, followed by the number of shares owned and their subsequent percentage holding.

Research

In early 2014, MS Amlin teamed up with the University of Oxford to study the dangers of relying on catastrophe predictions – in the latest sign of the industry's concern over the accuracy of computer models.[13]

Sponsorship

In 2009, the company signed a sponsorship deal with Rugby Union's European Rugby Cup to partner two rugby tournaments in Europe. Amlin is the title sponsor of the Amlin Challenge Cup and a premium partner of the Heineken Cup. In 2010 Essex County Cricket Club signed Amlin as its sponsor[14] and in early 2014 Amlin signed a three-year deal to become the platinum sponsor of Essex County Cricket Club.[15] The company also sponsors the Eventing Grand Prix at Hickstead[16] and the UK Youth London Art Show.[17] Amlin announced the sponsorship of the FIA Formula E Championship racing team Amlin Aguri in 2014[18] and Andretti Autosport in 2015.[19]

Notable losses

On 11 September 2001 Syndicate 2001 suffered a $137.2m loss from the terrorist attacks that day.[20] In 2011 Amlin made significant losses after £500m in claims from disasters including the Fukushima earthquake and Thai floods.[21] In January 2012 the company paid out a small percentage of the total claims resulting from the Costa Concordia disaster.[22]

External links

Notes and References

  1. Web site: Preliminary Results 2014. Amlin. 22 March 2015.
  2. Web site: Angerstein Underwriting Trust acquires Murray Lawrence. Thompson M&A. 28 September 1998. 6 April 2012.
  3. Web site: Overview – Amlin plc. 21 January 2014. 8 October 2015. https://web.archive.org/web/20151008020718/http://www.amlin.com/about-amlin/overview.aspx. dead.
  4. Web site: Amlin completes acquisition of Anglo French Underwriters. Post on line. 26 November 2008. 6 April 2012.
  5. Web site: Amlin acquires Fortis Corporate Insurance for €350m. The Telegraph. 3 June 2009. 6 April 2012.
  6. Web site: Mitsui Sumitomo to buy insurer Amlin for £3.5bn . Financial Times. 8 September 2015. 1 October 2015.
  7. Web site: Mitsui completes Amlin acquisition. 1 February 2016. Insurance Day. 1 February 2016. https://web.archive.org/web/20160701133211/https://www.insuranceday.com/ece_incoming/mitsui-completes-amlin-acquisition.htm. 1 July 2016. dead.
  8. News: Bank of England fines Amlin $11 mln for risk management failings . Reuters. 20 October 2022. 20 July 2023.
  9. Web site: Amlin rents space in the Cheesegrater. The Telegraph. December 2012. 13 January 2014.
  10. Web site: Amlin About Us. Post on line. 15 January 2014.
  11. Web site: Financial strength ratings. 15 January 2014.
  12. Web site: Major Shareholders – Amlin plc. 21 January 2014.
  13. Web site: Insurer and Oxford university link for catastrophe study. Financial Times . 9 February 2014 . 9 February 2014.
  14. Web site: Essex Cricket Club signs Amlin as sponsor. 23 April 2010. 14 April 2012.
  15. Web site: Amlin's continued support for Essex cricket. 24 January 2014 . 2 February 2014.
  16. Web site: Hickstead latest news . 28 April 2011 . 14 April 2012 . dead . https://web.archive.org/web/20120330161545/http://www.hickstead.co.uk/news/amlin-ensures-the-eventing-grand-prix-for-two-years%21.aspx . 30 March 2012 .
  17. Web site: Amlin sponsors art show. 22 September 2009. 14 April 2012.
  18. Web site: Amlin Aguri Official FIA Formula E Championship. 10 February 2014. https://web.archive.org/web/20140630204840/http://www.fiaformulae.com/en/teams/amlin-aguri.aspx. 2014-06-30. dead.
  19. Web site: Amlin and TE Connectivity to sponsor US team. 9 July 2016. https://web.archive.org/web/20160809024125/http://fiaformulae.com/en/news/2015/august/andretti-announces-season-two-plans.aspx. 9 August 2016. dead.
  20. Web site: History – Amlin plc. 21 January 2014.
  21. Web site: Natural disasters push Amlin to £194m loss. The Telegraph. 5 March 2012. 6 April 2012.
  22. Web site: Amlin estimates pay out on cruise disaster. https://archive.today/20120909174201/http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19861952. dead. 9 September 2012. Sharecast. 7 February 2012. 13 April 2012.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Amlin".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2025, A B Cryer, All Rights Reserved. Cookie policy.