MS Amlin shifts its strategic focus
MS Amlin has developed a new underwriting strategy that involves redeploying its capital and management focus where it believes underwriting expertise is critical and products are not commoditised.
In particular, MS Amlin will focus on three core markets: high value reinsurance, led by CEO Chris Beazley and chief underwriting officer Dominic Peters; specialty insurance, the unit for which is being created by combining its marine and P&C international platforms under the leadership of CEO Tom Clementi and co-CUOs Andrew Wright and Mark Clements; and European commercial insurance, under the leadership of Rudy Benmeridja, interim CEO and CUO.
As part of the new underwriting strategy, MS Amlin is backing away from P&C UK insurance, including corporate property, real estate, casualty, package binders and fleet, as well as aviation.
It also identified Bloodstock, within P&C international, UK Yacht (previously Haven) and AUA Insolvency Risk Services as businesses that are no longer part of its long term strategic plans.
“We believe there are other owners that are better positioned to take these great books of business forward,” said Simon Beale, CEO of MS Amlin. “There will be no interruption to the service our brokers and clients receive in the meantime.”
The new underwriting strategy brings MS Amlin into line with the 2021 management plan of its parent, MS&AD, as well as realising its own 2023 transformation plan.
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.