MS Amlin to pull out of nine markets

MS Amlin has announced plans to refocus its core business on European commercial insurance, P/C and marine and high-value reinsurance, pulling out of nine classes of business in a transformation slated for completion by 2023.

The nine classes which “no longer form part of its future strategic direction” will trade as normal until “long-term solutions” are found for each. These include P/C UK insurance (corporate property, real estate, casualty, package binders, fleet) and aviation. Operations include bloodstock in P/C international; UK yacht (previously Haven) and AUA Insolvency Risk Services.

MS Amlin CEO, Simon Beale said: “The decisive measures we are taking across our underwriting portfolio will allow us to focus and build on our track record of providing risk solutions to our clients’ most complex needs. It will refocus our business and ensure we are best placed to serve our clients and their shifting demands, as technology, digitalisation and data and analytics trends continue to change the nature of insured risk.

“We have a deeply talented workforce with shared values focused on delivering long-term value for clients and sustainable growth for our shareholder MS&AD who has been and will continue to be hugely supportive during this process,” he said.

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