Amlin, the leading specialist non-life insurer, announces that it has acquired a
minority shareholding in independent UK retail broker, MS plc. Through such
investments Amlin aims to develop its existing longstanding business
relationships with selected UK retail and wholesale brokers and thus expand and
enhance the product range available to their clients.
MS plc is an independent broker based in the City of London but covering the
entire UK with direct and immediate access into Lloyd's.
Paul Chainey, Chief Executive of MS plc commented: "We have worked with Amlin
for many years, mainly on commercial motor insurance, and we look forward to
jointly developing other lines including SME property, as well as product
enhancements for our existing clients."
Charles Philipps, Amlin's Chief Executive commented, "This investment forms part
of Amlin's ongoing strategy to broaden our UK distribution through selective
partnerships with high quality brokers."
Enquiries:
Hannah Bale, Head of Group Communications 0207 746 1118
Amlin plc
Notes to Editors:
Amlin plc is a recognised leader in the London insurance and reinsurance market,
providing a global client base with risk management solutions. Amlin specialises
in four business areas: Aviation; Marine; UK commercial; and International
property and casualty insurance and reinsurance. A FTSE-250 quoted company Amlin
owns 100% of its £825m capacity for 2008, which is written through Lloyd's
Syndicate 2001. Amlin's Syndicate is rated 'A+' (Excellent) by AM Best and 'A1'
(Stable) by Moody's.
In November 2005, the company established Amlin Bermuda, a reinsurance business
capitalised at US$1 billion and rated A (Excellent) by A.M. Best and A by
Standard & Poor's. In November 2007, the company established Amlin Singapore as
part of the Lloyd's Asia platform, to provide regional clients with marine
energy, cargo, property, sabotage and terrorism insurance.
MS plc (Miles Smith) is an independent insurance broker based in the City of
London, broking premium income in excess of £100m. The business was founded in
1925 and has developed a highly sophisticated range of products and services for
many specialist and high-risk industries including construction, environmental
and waste management and asbestos removal as well as property, motor fleet,
leisure and entertainment.