MS Amlin confirms exit from domestic UK P&C classes
MS Amlin, the global re/insurer, has confirmed that it will cease underwriting corporate property, real estate, casualty and package binders through its UK P&C business with effect from January 31 2020.
The 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, said: “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 September 30 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.”
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