MS Amlin has implemented a new operating model, with a reshuffled leadership team, as it reorganises its international businesses.
The re/insurer has removed the regional holding company framework across Mitsui Sumitomo Insurance’s three regions, Asia, America and Europe, with effect from January 1. The new structure removes MS Amlin Plc, leaving distinct corporate entities owned directly by Mitsui Sumitomo Insurance, supported by a shared business service enterprise.
As part of the reorganisation Simon Beale is stepping down from his role as CEO of MS Amlin, but will remain in his role as CEO of Mitsui Sumitomo Insurance. James Illingworth will also step down as chief underwriting officer, but retains his seat as a non-executive director of the group in the near term.
MS Amlin Underwriting Limited is led by Tom Clementi as its CEO; MS Amlin AG is run by CEO Chris Beazley; MS Amlin Insurance SE has Rudy Benmeridja acting as interim CEO; and MS Amlin Business Services is run by CEO Iain Pearce, who joined MS Amlin as chief financial officer in June this year.
MS Amlin said the new structure simplifies and enhances strategic and operational oversight, and has been designed to support the implementation of its new underwriting strategy, announced in September 2019. That strategy redeploys capital and management focus to its three core markets of reinsurance, specialty and domestic specialty markets in continental Europe.
Masahiro Matsumoto, director and senior executive officer of Mitsui Sumitomo Insurance, said: “The transition to a new international organisational structure will strengthen collaboration across all operating companies globally. This will support the group’s ambitious international growth strategy.”
MS Amlin, Simon Beale, James Illingworth, Tom Clementi, Chris Beazley, Rudy Benmeridja, Iain Pearce, Masahiro Matsumoto