Jump to content

Amlin: Difference between revisions

Add links
From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
No edit summary
m clean up, typo(s) fixed: Company → company
 
(26 intermediate revisions by 17 users not shown)
Line 1: Line 1:
{{EngvarB|date=February 2019}}
{{Infobox company
{{Use dmy dates|date=February 2019}}
| name = Amlin plc
{{Infobox company
| logo = [[File:Amlin logo.jpg|120px]]
| name = MS Amlin
| type = [[Public limited company]]<br />[[FTSE 250 Index|FTSE 250 Component]]
| logo = MS Amlin logo.svg
| traded_as = {{London Stock Exchange|AML}}
| type = [[Private limited company]]
| traded_as =
| foundation = 1998
| foundation = 1998
| location = [[St. Helen's (skyscraper)|St. Helen's]], 1 Undershaft, [[London]], [[United Kingdom]]
| location = [[122 Leadenhall Street]], London, United Kingdom
| key_people = Roger Taylor, ([[Chair (official)|Chairman]])<br>Charles Philipps, ([[CEO]])
| key_people = Roger Taylor, (chairman)<br>Charles Philipps, (CEO)
| industry = [[Insurance]]
| industry = Insurance, (Re)Insurer
| products =
| products =
| revenue = {{profit}} [[Pound sterling|£]]2,242.1 million (2013)<ref name=prelims>[http://otp.investis.com/clients/uk/amlin/rns/regulatory-story.aspx?cid=425&newsid=395548 Preliminary Results 2013]</ref>
| revenue = £2,476.4&nbsp;million (2014)<ref name=prelims>{{cite web|url=http://www.amlin.com/~/media/Files/A/Amlin-Plc/documents/Preliminary-Results-year-ending-31-December-2014-v2.pdf|title=Preliminary Results 2014|publisher=Amlin|access-date=22 March 2015}}</ref>
| operating_income = {{profit}} [[Pound sterling|£]]350.8 million (2013)<ref name=prelims/>
| operating_income =
| net_income =
| net_income = {{profit}} [[Pound sterling|£]]298.7 million (2013)<ref name=prelims/>
| num_employees = 1,700 in seven countries (2013)
| num_employees = 1,700 in seven countries (2013)
| parent =
| parent = [[Mitsui Sumitomo Insurance Group]]
| subsid =
| subsid =
| homepage = [http://www.amlin.com www.amlin.com]
| homepage = [http://www.msamlin.com/en/index.html www.msamlin.com]
| caption =
| caption =
| footnotes =
| footnotes =
}}
}}


'''Amlin plc''' is an independent insurer operating in the [[Lloyd's]], UK, Continental Europe and Bermudian markets. Specialising in providing [[insurance]] cover to commercial enterprises and [[reinsurance]] protection to other insurance companies around the world, Amlin's shares are listed on the [[London Stock Exchange]], and the company is a member of the [[FTSE 250 Index]].
'''MS Amlin Ltd''' is an insurer operating in the [[Lloyd's]], UK, Continental Europe and Bermudian markets. Specialising in providing insurance cover to commercial enterprises and [[reinsurance]] protection to other insurance companies around the world, MS Amlin's shares were listed on the [[London Stock Exchange]] until it was acquired by [[Mitsui Sumitomo Insurance Group]] in February 2016.


==History==
The company was formed on 28 September 1998 through the merger of Angerstein Underwriting Trust and Murray Lawrence Group syndicate (the name was derived by combining 'A' from Angerstein, 'ML' from Murray Lawrence Group and 'IN' from Insurance).<ref>{{cite web|url=http://www.alacrastore.com/storecontent/Thomson_M&A/Angerstein_Underwriting_Trust_acquires_Murray_Lawrence_Hldgs-779156040|title=Angerstein Underwriting Trust acquires Murray Lawrence|publisher=Thompson M&A|date=28 September 1998|access-date=6 April 2012}}</ref> However, the oldest part of the business (K J Coles Syndicate) dates back to 1903.<ref>{{cite web|url=http://www.amlin.com/about-amlin/overview.aspx|title=Overview – Amlin plc|access-date=21 January 2014|archive-date=8 October 2015|archive-url=https://web.archive.org/web/20151008020718/http://www.amlin.com/about-amlin/overview.aspx|url-status=dead}}</ref> In 2008 it bought Anglo French Underwriters<ref>{{cite web|url=http://www.postonline.co.uk/post/news/1262244/amlin-completes-acquisition-anglo-french-underwriters |title=Amlin completes acquisition of Anglo French Underwriters|publisher= Post on line|date= 26 November 2008|access-date=6 April 2012}}</ref> and subsequently renamed it as Amlin France in 2010. In July 2009 it acquired Fortis Corporate Insurance for €350m only to be renamed Amlin Corporate Insurance.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/5434446/Amlin-acquires-Fortis-Corporate-Insurance-for-350m.html|title=Amlin acquires Fortis Corporate Insurance for €350m|work=The Telegraph|date=3 June 2009|access-date=6 April 2012}}</ref>


On 8 September 2015, it was announced that [[Mitsui Sumitomo Insurance Group]] had agreed to buy the firm for £3.5bn.<ref>{{cite web|url=http://www.ft.com/cms/s/0/ee83e56e-559d-11e5-9846-de406ccb37f2.html|title=Mitsui Sumitomo to buy insurer Amlin for £3.5bn |work=Financial Times|date=8 September 2015|access-date=1 October 2015}}</ref> The acquisition was completed in February 2016.<ref>{{cite web|url=https://www.insuranceday.com/ece_incoming/mitsui-completes-amlin-acquisition.htm|title=Mitsui completes Amlin acquisition|date=1 February 2016|publisher=Insurance Day|access-date=1 February 2016|archive-url=https://web.archive.org/web/20160701133211/https://www.insuranceday.com/ece_incoming/mitsui-completes-amlin-acquisition.htm|archive-date=1 July 2016|url-status=dead}}</ref>


MS Amlin was fined £9.7 million by the [[Prudential Regulation Authority (United Kingdom)|Prudential Regulation Authority]] for risk management failures in September 2022.<ref>{{cite news|url=https://www.reuters.com/world/uk/bank-england-fines-amlin-11-million-risk-management-failings-2022-10-20/|title=Bank of England fines Amlin $11 mln for risk management failings | newspaper=Reuters|date=20 October 2022|access-date=20 July 2023}}</ref>













































































































==History==
The Company was formed on the 28 September 1998 through the merger of Angerstein Underwriting Trust and Murray Lawrence Group syndicate (the name was derived by combining 'A' from Angerstein, 'ML' from Murray Lawrence Group and 'IN' from Insurance).<ref>{{cite web|url=http://www.alacrastore.com/storecontent/Thomson_M&A/Angerstein_Underwriting_Trust_acquires_Murray_Lawrence_Hldgs-779156040|title=Angerstein Underwriting Trust acquires Murray Lawrence|publisher=Thompson M&A|date=28 September 1998|accessdate=6 April 2012}}</ref> However, the oldest part of the business (K J Coles Syndicate) dates back to 1903.<ref>{{cite web|url=http://www.amlin.com/about-amlin/overview.aspx|title=Overview - Amlin plc |publisher=|date=|accessdate=21 January 2014}}</ref> In 2008 it bought Anglo French Underwriters <ref>{{cite web|url=http://www.postonline.co.uk/post/news/1262244/amlin-completes-acquisition-anglo-french-underwriters |title=Amlin completes acquisition of Anglo French Underwriters|publisher= Post on line|date= 26 November 2008|accessdate=6 April 2012}}</ref> and subsequently renamed it as Amlin France in 2010. In July 2009 it acquired Fortis Corporate Insurance for €350m only to be renamed Amlin Corporate Insurance.<ref>{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/5434446/Amlin-acquires-Fortis-Corporate-Insurance-for-350m.html|title=Amlin acquires Fortis Corporate Insurance for €350m|publisher=The Telegraph|date=3 June 2009|accessdate=6 April 2012}}</ref> In December 2011 Amlin issued a 'catastrophe bond' with a yield of 16.75% to try and protect shareholders from the worst effects of severe losses.<ref>{{cite web|url=http://www.dailymail.co.uk/money/markets/article-2078164/Lloyds-London-insurer-Amlin-launches-catastrophe-bond.html|title=Lloyd's of London insurer Amlin launches 'catastrophe bond'|publisher=Sharecast|date=24 December 2011|accessdate=13 April 2012}}</ref>


==Headquarters==
==Headquarters==
Amlin is currently based at [[St. Helen's (skyscraper)|St. Helen's]]. In December 2013, Amlin signed an agreement to move to a new building at [[122 Leadenhall Street]].<ref>{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9749648/Insurer-Amlin-rents-space-in-the-Cheesegrater.html |title=Amlin rents space in the Cheesegrater|publisher= The Telegraph|date= December 2012|accessdate=13 January 2014}}</ref>
As of September 2015, MS Amlin is based at [[122 Leadenhall Street]].<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9749648/Insurer-Amlin-rents-space-in-the-Cheesegrater.html |title=Amlin rents space in the Cheesegrater|work= The Telegraph|date= December 2012|access-date=13 January 2014}}</ref>


==Operations==
==Operations==
Amlin is organised as follows:<ref>{{cite web|url=http://www.amlin.com/about-amlin.aspx |title=Amlin About Us|publisher= Post on line|date=|accessdate=15 January 2014}}</ref>
MS Amlin is organised as follows:<ref>{{cite web|url=http://www.amlin.com/about-amlin.aspx |title=Amlin About Us|publisher= Post on line|access-date=15 January 2014}}</ref>


*'''Amlin Bermuda'''
*'''Amlin Bermuda'''
**A branch of Amlin AG is a specialist, [[reinsurance]] [[underwriting]] business, formed in October 2005.
**A branch of Amlin AG is a specialist, [[reinsurance]] [[underwriting]] business, formed in October 2005.
*'''Amlin Europe'''
*'''Amlin Europe'''
**A specialised insurer for large and medium sized companies in continental Europe.
**A specialised insurer for large and medium-sized companies in continental Europe.
*'''Amlin London'''
*'''Amlin London'''
**Part of Amlin Underwriting Limited and writes [[insurance]] and [[reinsurance]] business through Syndicate 2001 at Lloyd's.
**Part of Amlin Underwriting Limited and writes insurance and [[reinsurance]] business through Syndicate 2001 at Lloyd's.
*'''Amlin Re Europe'''
*'''Amlin Re Europe'''
**Amlin Re Europe (ARE) is the Group's Zurich based [[reinsurance]] [[underwriting]] business. ARE commenced [[underwriting]] in October 2010 as a full service [[reinsurance]] operation.
**Amlin Re Europe (ARE) is the Group's Zurich based [[reinsurance]] [[underwriting]] business. ARE commenced [[underwriting]] in October 2010 as a full service [[reinsurance]] operation.
Line 154: Line 49:


==Financial ratings==
==Financial ratings==
The three [[underwriting]] platforms within Amlin are financially rated separately:<ref>{{cite web|url=http://www.amlin.com/about-amlin/financial-ratings.aspx |title=Financial strength ratings|publisher= |date= |accessdate=15 January 2014}}</ref>
The three [[underwriting]] platforms within MS Amlin are financially rated separately:<ref>{{cite web|url=http://www.amlin.com/about-amlin/financial-ratings.aspx |title=Financial strength ratings|access-date=15 January 2014}}</ref>
*Syndicate 2001 ([[Reinsurance]]/[[Insurance]])
*Syndicate 2001 ([[Reinsurance]]/Insurance)
** [[A. M. Best]]: '''A+ (Superior)'''
** [[A. M. Best]]: '''A+ (Superior)'''
** [[Moody's Investors Service]]: '''A2 (Stable)'''
** [[Moody's Investors Service]]: '''A2 (Stable)'''
** [[Standard & Poor's]]: '''Lloyd’s Syndicate Assessment 4+ (Stable)'''
** [[Standard & Poor's]]: '''Lloyd's Syndicate Assessment 4+ (Stable)'''
* Amlin AG ([[Reinsurance]])
* Amlin AG ([[Reinsurance]])
**[[A. M. Best]]: '''A (Excellent)'''
**[[A. M. Best]]: '''A (Excellent)'''
Line 168: Line 63:
** [[Standard & Poor's]]: '''A- (Stable)'''
** [[Standard & Poor's]]: '''A- (Stable)'''


== Major Shareholders==
== Major shareholders==
As of January 2014 the major shareholders in Amlin were:<ref>{{cite web|url=http://www.amlin.com/investors/shares/major-shareholders.aspx |title=Major Shareholders - Amlin plc|publisher= |date= |accessdate=21 January 2014}}</ref>
As of January 2014 the major shareholders in Amlin were:<ref>{{cite web|url=http://www.amlin.com/investors/shares/major-shareholders.aspx |title=Major Shareholders – Amlin plc|access-date=21 January 2014}}</ref>
*[[Invesco]] Ltd: 69,519,312 (13.9%)
*[[Invesco]] Ltd: 69,519,312 (13.9%)
*[[Baillie Gifford]] & Co: 25,136,807 (5.1%)
*[[Baillie Gifford]] & Co: 25,136,807 (5.1%)
*[[BlackRock]], Inc.: 24,551,817 (4.9%)
*[[BlackRock]], Inc.: 24,551,817 (4.9%)
*Majedie Asset Management Ltd: 23,663,478 (4.8%)
*Majedie Asset Management Ltd: 23,663,478 (4.8%)
*[[AXA]] S.A.: 23,197,732 (4.7%)
*[[AXA]] S.A.: 23,197,732 (4.7%)
*[[JPMorgan Chase]] & Co: 19,624,490 (4.0%)
*[[JPMorgan Chase]] & Co: 19,624,490 (4.0%)

The above gives the Shareholder name, followed by the number of shares owned and their subsequent percentage holding.
The above gives the shareholder name, followed by the number of shares owned and their subsequent percentage holding.


==Research==
==Research==
In early 2014, Amlin teamed up with the [[University of Oxford]] to study the dangers of relying on catastrophe predictions – in the latest sign of the industry’s concern over the accuracy of computer models.<ref>{{cite web|url=http://www.ft.com/cms/s/0/b6ca34f2-9181-11e3-8fb3-00144feab7de.html#axzz2sxFfOPBj|title=Insurer and Oxford university link for catastrophe study
In early 2014, MS Amlin teamed up with the [[University of Oxford]] to study the dangers of relying on catastrophe predictions – in the latest sign of the industry's concern over the accuracy of computer models.<ref>{{cite web|url=http://www.ft.com/cms/s/0/b6ca34f2-9181-11e3-8fb3-00144feab7de.html|title=Insurer and Oxford university link for catastrophe study
|publisher= Financial Times |date=9 February 2014 |accessdate=9 February 2014}}</ref>
|work= Financial Times |date=9 February 2014 |access-date=9 February 2014}}</ref>


==Sponsorship==
==Sponsorship==
In 2009, the company signed a sponsorship deal with [[Rugby Union]]'s European Rugby Cup to partner the two elite rugby tournaments in Europe. Amlin is the title sponsor of the [[Amlin Challenge Cup]] and a premium partner of the [[Heineken Cup]]. In 2010 [[Essex County Cricket Club]] signed Amlin as its sponsor <ref>{{cite web|url=http://www.sportspromedia.com/news/essex_cricket_club_signs_amlin_as_sponsor/|title=Essex Cricket Club signs Amlin as sponsor|date=23 April 2010|accessdate=14 April 2012}}</ref> and in early 2014 Amlin signed a three year deal to become the platinum sponsor of [[Essex County Cricket Club]].<ref>{{cite web|url=http://www.thurrockgazette.co.uk/sport/10957776.Amlin_s_continued_support_for_Essex_cricket/|title=Amlin's continued support for Essex cricket|date=24 January 2014 |accessdate=2 February 2014}}</ref> The company also sponsors the Eventing Grand Prix at [[All England Jumping Course at Hickstead|Hickstead]]<ref>{{cite web|url=http://www.hickstead.co.uk/news/amlin-ensures-the-eventing-grand-prix-for-two-years!.aspx|title=Hickstead latest news|date=28 April 2011|accessdate=14 April 2012}}</ref> and the [[UK Youth|UK Youth London Art Show]].<ref>{{cite web|url=http://www.postonline.co.uk/post/news/1555836/amlin-sponsors-art|title=Amlin sponsors art show|date= 22 September 2009|accessdate=14 April 2012}}</ref>
In 2009, the company signed a sponsorship deal with [[Rugby Union]]'s European Rugby Cup to partner two rugby tournaments in Europe. Amlin is the title sponsor of the [[Amlin Challenge Cup]] and a premium partner of the [[Heineken Cup]]. In 2010 [[Essex County Cricket Club]] signed Amlin as its sponsor<ref>{{cite web|url=http://www.sportspromedia.com/news/essex_cricket_club_signs_amlin_as_sponsor/|title=Essex Cricket Club signs Amlin as sponsor|date=23 April 2010|access-date=14 April 2012}}</ref> and in early 2014 Amlin signed a three-year deal to become the platinum sponsor of [[Essex County Cricket Club]].<ref>{{cite web|url=http://www.thurrockgazette.co.uk/sport/10957776.Amlin_s_continued_support_for_Essex_cricket/|title=Amlin's continued support for Essex cricket|date=24 January 2014 |access-date=2 February 2014}}</ref> The company also sponsors the Eventing Grand Prix at [[All England Jumping Course at Hickstead|Hickstead]]<ref>{{cite web|url=http://www.hickstead.co.uk/news/amlin-ensures-the-eventing-grand-prix-for-two-years!.aspx |title=Hickstead latest news |date=28 April 2011 |access-date=14 April 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120330161545/http://www.hickstead.co.uk/news/amlin-ensures-the-eventing-grand-prix-for-two-years%21.aspx |archive-date=30 March 2012 }}</ref> and the [[UK Youth]] London Art Show.<ref>{{cite web|url=http://www.postonline.co.uk/post/news/1555836/amlin-sponsors-art|title=Amlin sponsors art show|date= 22 September 2009|access-date=14 April 2012}}</ref> Amlin announced the sponsorship of the [[FIA Formula E Championship]] racing team [[Amlin Aguri]] in 2014<ref>{{cite web|url=http://www.fiaformulae.com/en/teams/amlin-aguri.aspx|title=Amlin Aguri Official FIA Formula E Championship|access-date=10 February 2014|archive-url=https://web.archive.org/web/20140630204840/http://www.fiaformulae.com/en/teams/amlin-aguri.aspx|archive-date=2014-06-30|url-status=dead}}</ref> and [[Andretti Autosport]] in 2015.<ref>{{cite web|url=http://fiaformulae.com/en/news/2015/august/andretti-announces-season-two-plans.aspx|title=Amlin and TE Connectivity to sponsor US team|access-date=9 July 2016|archive-url=https://web.archive.org/web/20160809024125/http://fiaformulae.com/en/news/2015/august/andretti-announces-season-two-plans.aspx|archive-date=9 August 2016|url-status=dead}}</ref>


== Notable Losses ==
== Notable losses ==
On September 11, 2001 Syndicate 2001 suffered a $137.2m loss from the [[September 11 attacks|terrorist attacks]] that day.<ref>{{cite web|url=http://www.amlin.com/about-amlin/history.aspx|title=History - Amlin plc|publisher=|date=|accessdate=21 January 2014}}</ref>
On 11 September 2001 Syndicate 2001 suffered a $137.2m loss from the [[September 11 attacks|terrorist attacks]] that day.<ref>{{cite web|url=http://www.amlin.com/about-amlin/history.aspx|title=History – Amlin plc|access-date=21 January 2014}}</ref>
In 2011 Amlin made significant losses after £500m in claims from disasters including the [[April 2011 Fukushima earthquake|Fukushima earthquake]] and Thai floods.<ref>{{cite web|url=http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9123342/Natural-disasters-push-Amlin-to-194m-loss.html|title=Natural disasters push Amlin to £194m loss|publisher=The Telegraph|date=5 March 2012|accessdate=6 April 2012}}</ref> in January 2012 the company paid out a small percentage of the total claims resulting from the [[Costa Concordia]] disaster.<ref>{{cite web|url=http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19861952|title=Amlin estimates pay out on cruise disaster|publisher=Sharecast|date=7 February 2012|accessdate=13 April 2012}}</ref>
In 2011 Amlin made significant losses after £500m in claims from disasters including the [[April 2011 Fukushima earthquake|Fukushima earthquake]] and Thai floods.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9123342/Natural-disasters-push-Amlin-to-194m-loss.html|title=Natural disasters push Amlin to £194m loss|work=The Telegraph|date=5 March 2012|access-date=6 April 2012}}</ref> In January 2012 the company paid out a small percentage of the total claims resulting from the [[Costa Concordia]] disaster.<ref>{{cite web|url=http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19861952|archive-url=https://archive.today/20120909174201/http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19861952|url-status=dead|archive-date=9 September 2012|title=Amlin estimates pay out on cruise disaster|publisher=Sharecast|date=7 February 2012|access-date=13 April 2012}}</ref>


==References==
==References==
Line 193: Line 89:


==External links==
==External links==
* [http://www.amlin.com/ Official site]
* [http://www.msamlin.com/ Official site]
{{Mitsui|state=autocollapse}}

{{ICISA members}}
{{FTSE 250 Index constituents}}
{{Authority control}}


[[Category:Companies listed on the London Stock Exchange]]
[[Category:Companies formerly listed on the London Stock Exchange]]
[[Category:Insurance companies of the United Kingdom]]
[[Category:Insurance companies of the United Kingdom]]
[[Category:Companies established in 1998]]
[[Category:Financial services companies established in 1998]]
[[Category:1998 establishments in England]]
[[Category:1998 establishments in England]]
[[Category:Sumitomo Group]]
[[Category:MS&AD Insurance Group]]
[[Category:2016 mergers and acquisitions]]

Latest revision as of 04:40, 31 December 2024

MS Amlin
Company typePrivate limited company
IndustryInsurance, (Re)Insurer
Founded1998
Headquarters122 Leadenhall Street, London, United Kingdom
Key people
Roger Taylor, (chairman)
Charles Philipps, (CEO)
Revenue£2,476.4 million (2014)[1]
Number of employees
1,700 in seven countries (2013)
ParentMitsui Sumitomo Insurance Group
Websitewww.msamlin.com

MS Amlin Ltd is an insurer operating in the Lloyd's, UK, Continental Europe and Bermudian markets. Specialising in providing insurance cover to commercial enterprises and reinsurance protection to other insurance companies around the world, MS Amlin's shares were listed on the London Stock Exchange until it was acquired by Mitsui Sumitomo Insurance Group in February 2016.

History

[edit]

The company was formed on 28 September 1998 through the merger of Angerstein Underwriting Trust and Murray Lawrence Group syndicate (the name was derived by combining 'A' from Angerstein, 'ML' from Murray Lawrence Group and 'IN' from Insurance).[2] However, the oldest part of the business (K J Coles Syndicate) dates back to 1903.[3] In 2008 it bought Anglo French Underwriters[4] and subsequently renamed it as Amlin France in 2010. In July 2009 it acquired Fortis Corporate Insurance for €350m only to be renamed Amlin Corporate Insurance.[5]

On 8 September 2015, it was announced that Mitsui Sumitomo Insurance Group had agreed to buy the firm for £3.5bn.[6] The acquisition was completed in February 2016.[7]

MS Amlin was fined £9.7 million by the Prudential Regulation Authority for risk management failures in September 2022.[8]

Headquarters

[edit]

As of September 2015, MS Amlin is based at 122 Leadenhall Street.[9]

Operations

[edit]

MS Amlin is organised as follows:[10]

  • Amlin Bermuda
  • Amlin Europe
    • A specialised insurer for large and medium-sized companies in continental Europe.
  • Amlin London
    • Part of Amlin Underwriting Limited and writes insurance and reinsurance business through Syndicate 2001 at Lloyd's.
  • Amlin Re Europe
  • Amlin UK
    • Operates as part of Amlin Underwriting Limited and underwrites business through Syndicate 2001 at Lloyd's.

Financial ratings

[edit]

The three underwriting platforms within MS Amlin are financially rated separately:[11]

Major shareholders

[edit]

As of January 2014 the major shareholders in Amlin were:[12]

The above gives the shareholder name, followed by the number of shares owned and their subsequent percentage holding.

Research

[edit]

In early 2014, MS Amlin teamed up with the University of Oxford to study the dangers of relying on catastrophe predictions – in the latest sign of the industry's concern over the accuracy of computer models.[13]

Sponsorship

[edit]

In 2009, the company signed a sponsorship deal with Rugby Union's European Rugby Cup to partner two rugby tournaments in Europe. Amlin is the title sponsor of the Amlin Challenge Cup and a premium partner of the Heineken Cup. In 2010 Essex County Cricket Club signed Amlin as its sponsor[14] and in early 2014 Amlin signed a three-year deal to become the platinum sponsor of Essex County Cricket Club.[15] The company also sponsors the Eventing Grand Prix at Hickstead[16] and the UK Youth London Art Show.[17] Amlin announced the sponsorship of the FIA Formula E Championship racing team Amlin Aguri in 2014[18] and Andretti Autosport in 2015.[19]

Notable losses

[edit]

On 11 September 2001 Syndicate 2001 suffered a $137.2m loss from the terrorist attacks that day.[20] In 2011 Amlin made significant losses after £500m in claims from disasters including the Fukushima earthquake and Thai floods.[21] In January 2012 the company paid out a small percentage of the total claims resulting from the Costa Concordia disaster.[22]

References

[edit]
  1. ^ "Preliminary Results 2014" (PDF). Amlin. Retrieved 22 March 2015.
  2. ^ "Angerstein Underwriting Trust acquires Murray Lawrence". Thompson M&A. 28 September 1998. Retrieved 6 April 2012.
  3. ^ "Overview – Amlin plc". Archived from the original on 8 October 2015. Retrieved 21 January 2014.
  4. ^ "Amlin completes acquisition of Anglo French Underwriters". Post on line. 26 November 2008. Retrieved 6 April 2012.
  5. ^ "Amlin acquires Fortis Corporate Insurance for €350m". The Telegraph. 3 June 2009. Retrieved 6 April 2012.
  6. ^ "Mitsui Sumitomo to buy insurer Amlin for £3.5bn". Financial Times. 8 September 2015. Retrieved 1 October 2015.
  7. ^ "Mitsui completes Amlin acquisition". Insurance Day. 1 February 2016. Archived from the original on 1 July 2016. Retrieved 1 February 2016.
  8. ^ "Bank of England fines Amlin $11 mln for risk management failings". Reuters. 20 October 2022. Retrieved 20 July 2023.
  9. ^ "Amlin rents space in the Cheesegrater". The Telegraph. December 2012. Retrieved 13 January 2014.
  10. ^ "Amlin About Us". Post on line. Retrieved 15 January 2014.
  11. ^ "Financial strength ratings". Retrieved 15 January 2014.
  12. ^ "Major Shareholders – Amlin plc". Retrieved 21 January 2014.
  13. ^ "Insurer and Oxford university link for catastrophe study". Financial Times. 9 February 2014. Retrieved 9 February 2014.
  14. ^ "Essex Cricket Club signs Amlin as sponsor". 23 April 2010. Retrieved 14 April 2012.
  15. ^ "Amlin's continued support for Essex cricket". 24 January 2014. Retrieved 2 February 2014.
  16. ^ "Hickstead latest news". 28 April 2011. Archived from the original on 30 March 2012. Retrieved 14 April 2012.
  17. ^ "Amlin sponsors art show". 22 September 2009. Retrieved 14 April 2012.
  18. ^ "Amlin Aguri Official FIA Formula E Championship". Archived from the original on 30 June 2014. Retrieved 10 February 2014.
  19. ^ "Amlin and TE Connectivity to sponsor US team". Archived from the original on 9 August 2016. Retrieved 9 July 2016.
  20. ^ "History – Amlin plc". Retrieved 21 January 2014.
  21. ^ "Natural disasters push Amlin to £194m loss". The Telegraph. 5 March 2012. Retrieved 6 April 2012.
  22. ^ "Amlin estimates pay out on cruise disaster". Sharecast. 7 February 2012. Archived from the original on 9 September 2012. Retrieved 13 April 2012.
[edit]
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Amlin&oldid=1266341040"