MS Amlin will quit the aviation insurance market, effective from October 14, when it will cease underwriting aviation insurance renewals or new business.
The only exception is the aviation hull war portfolio, which will continue to be underwritten by the existing war team.
The decision to quit aviation insurance follows the completion of a strategic review, with its realignment enabling it to devote more capital, investment and management time on areas of focus to support its growth ambitions.
The aviation insurance portfolio’s runoff will be managed internally, not outsourced under a Reinsurance To Close (RITC) arrangement, Simon Beale, CEO at MS Amlin, said would ensure continuity of service for its clients.
Beale said: “The run-off of the aviation insurance book will allow us to focus our attention on our new underwriting strategy and build on the progress we have made in restoring profitability.”