MS Amlin, MSIG UK unveil dual-stamp underwriting functionality

MS Amlin, a world reinsurer working within the Lloyd’s market, together with its sister firm, Mitsui Sumitomo Insurance coverage Firm UK (Europe) (MSIG UK), have launched a brand new twin stamp underwriting functionality.  

This transfer is alleged to boost their London market footprint. 

It should allow MS Amlin underwriters to write down dangers by utilising each their present Lloyd’s stamp and firm paper of MSIG UK.  

This initiative goals to supply brokers with a single entry level to each markets by rising capability. 

The twin-stamp underwriting functionality is a part of a technique to capitalise on the “scale” and “monetary power” of their father or mother firm, Mitsui Sumitomo Insurance coverage Firm (MSI).  

MSI had beforehand outlined plans to boost the capability of its UK subsidiaries. 

The twin-stamp answer will initially apply to pure assets, commerce credit score and political threat, and accident and well being strains.  

Underwriters could have the authority to write down particular person dangers utilizing both one or each capability sources.  

The businesses intention to focus on lead and comply with alternatives within the open market and plan to develop the potential to line slips and binders as they refine their operations. 

Along with offering a unified gateway to each the Lloyd’s and firm markets, the answer is ready to supply brokers a claims service.  

MS Amlin CEO Andrew Service said: “We’re dedicated to driving progress by exploring progressive methods to distribute our merchandise, entry new purchasers and convey extra enterprise into the London market. This answer simplifies buying and selling for brokers, offering a single gateway to safe capability within the Lloyd’s and firm markets, broader protection choices and larger flexibility over threat placement.”  

MSIG UK CEO Martyn Rodden mentioned: “By working carefully with MS Amlin, we are able to faucet into new progress alternatives and develop our market attain. This joint answer will give brokers seamless entry to 2 stability sheets and assist them to position their consumer’s dangers extra effectively.  It additionally opens up new consumer teams – comparable to some banks on the commerce credit score aspect – which could not historically use Lloyd’s.”  

Final month, MS Amlin launched a brand new credit score and political threat answer in Dubai as a part of its growth within the Center East and North Africa area.  

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