MS Amlin restructures and changes leadership

MS Amlin has announced changes in its operating model as part of the reorganisation of its international business. The firm’s senior leadership team will also be affected as a result.

The reorganisation implies the removal of the regional holding company framework across Mitsui Sumitomo Insurance’s three regions, Asia, America and Europe from 1st January 2020.

MS Amlin will be removed and the corporate entities MS Amlin Underwriting (MS AUL), MS Amlin AG (MS AAG), MS Amlin Insurance SE (MS AISE) and MS Amlin Business Services (MS ABS) will be owned directly by MSI.

The firm’s new operating model will consist of its three insurance companies supported by a shared business service enterprise.

Chris Beazley will serve as chief executive officer of MS AAG; Tom Clementi as chief executive of MS AUL; Rudy Benmeridja as interim chief executive of MS AISE and Iain Pearce as chief executive of MS ABS.

Simon Beale will step down from his current role as the firm’s chief executive on 31st December 2019 but will continue as an executive officer of MSI.

James Illingworth will no longer serve as chief underwriting officer. He will remain in his current non-executive directorships in the near term.

Director, senior executive officer at MSI, Masahiro Matsumoto said: “I would like to express my sincere thanks and gratitude for Simon and James’s considerable contribution to MS Amlin over the past many years and look forward to their onward support.

“The transition to a new international organisational structure will strengthen collaboration across all operating companies globally,” he added. “This will support the group’s ambitious international growth strategy.”

The updated operating model has been designed to support the implementation of the firm’s new underwriting strategy to be implemented by 2023. The plan involves refocusing the core business on European commercial insurance, P/C and marine and high-value reinsurance, while pulling out of nine classes of business.

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