MS Amlin Ltd is an insurer operating in the
Lloyd's
Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body gov ...
, 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
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
until it was acquired by
Mitsui Sumitomo Insurance Group
is a Japanese insurance holding company headquartered in Tokyo, Japan.
MSIG was formed in 2001 from the merger of Mitsui Marine & Fire Insurance Co. (itself descended from the Taishō Marine and Fire Insurance Co. founded in 1918) and The Sumi ...
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). However, the oldest part of the business (K J Coles Syndicate) dates back to 1903. In 2008 it bought Anglo French Underwriters 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.
On 8 September 2015, it was announced that
Mitsui Sumitomo Insurance Group
is a Japanese insurance holding company headquartered in Tokyo, Japan.
MSIG was formed in 2001 from the merger of Mitsui Marine & Fire Insurance Co. (itself descended from the Taishō Marine and Fire Insurance Co. founded in 1918) and The Sumi ...
had agreed to buy the firm for £3.5bn. The acquisition was completed in February 2016.
Headquarters
As of September 2015, MS Amlin is based at
122 Leadenhall Street
122 Leadenhall Street, which is also known as the Leadenhall Building, is a skyscraper in central London. It opened in July 2014 and was designed by the Rogers Stirk Harbour + Partners; it is known informally as The Cheesegrater because of its ...
.
Operations
MS Amlin is organised as follows:
*Amlin Bermuda
**A branch of Amlin AG is a specialist,
reinsurance underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liabili ...
business, formed in October 2005.
*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 Re Europe (ARE) is the Group's Zurich based
reinsurance underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liabili ...
business. ARE commenced
underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liabili ...
in October 2010 as a full service
reinsurance operation.
*Amlin UK
**Operates as part of Amlin Underwriting Limited and underwrites business through Syndicate 2001 at
Lloyd's
Lloyd's of London, generally known simply as Lloyd's, is an insurance and reinsurance market located in London, England. Unlike most of its competitors in the industry, it is not an insurance company; rather, Lloyd's is a corporate body gov ...
.
Financial ratings
The three
underwriting
Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liabili ...
platforms within MS Amlin are financially rated separately:
*Syndicate 2001 (
Reinsurance/Insurance)
**
A. M. Best
AM Best is an American credit rating agency headquartered in Oldwick, New Jersey, that focuses on the insurance industry. Both the U.S. Securities and Exchange Commission and the National Association of Insurance Commissioners have designate ...
: A+ (Superior)
**
Moody's Investors Service
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides internationa ...
: A2 (Stable)
**
Standard & Poor's: Lloyd's Syndicate Assessment 4+ (Stable)
* Amlin AG (
Reinsurance)
**
A. M. Best
AM Best is an American credit rating agency headquartered in Oldwick, New Jersey, that focuses on the insurance industry. Both the U.S. Securities and Exchange Commission and the National Association of Insurance Commissioners have designate ...
: A (Excellent)
**
Moody's Investors Service
Moody's Investors Service, often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Investors Service provides internationa ...
: A2 (Stable)
**
Standard & Poor's: A (Stable)
**
Fitch Ratings
Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations ( NRSRO ...
: A+ (stable)
*Amlin Europe NV
**
Fitch Ratings
Fitch Ratings Inc. is an American credit rating agency and is one of the " Big Three credit rating agencies", the other two being Moody's and Standard & Poor's. It is one of the three nationally recognized statistical rating organizations ( NRSRO ...
: A+ (stable)
**
Standard & Poor's: A- (Stable)
Major shareholders
As of January 2014 the major shareholders in Amlin were:
*
Invesco
Invesco Ltd. is an American independent investment management company that is headquartered in Atlanta, Georgia, with additional branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York stock exc ...
Ltd: 69,519,312 (13.9%)
*
Baillie Gifford
Baillie Gifford is an investment management firm which is wholly owned by partners, all of whom work within the firm. It was founded in Edinburgh, Scotland, in 1908 and still has its headquarters in the city. It has corporate offices in New York ...
& Co: 25,136,807 (5.1%)
*
BlackRock
BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with trill ...
, Inc.: 24,551,817 (4.9%)
*Majedie Asset Management Ltd: 23,663,478 (4.8%)
*
AXA S.A.: 23,197,732 (4.7%)
*
JPMorgan Chase
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
& Co: 19,624,490 (4.0%)
The above gives the shareholder name, followed by the number of shares owned and their subsequent percentage holding.
Research
In early 2014, MS Amlin teamed up with the
University of Oxford
, mottoeng = The Lord is my light
, established =
, endowment = £6.1 billion (including colleges) (2019)
, budget = £2.145 billion (2019–20)
, chancellor ...
to study the dangers of relying on catastrophe predictions – in the latest sign of the industry's concern over the accuracy of computer models.
Sponsorship
In 2009, the company signed a sponsorship deal with
Rugby Union
Rugby union, commonly known simply as rugby, is a close-contact team sport that originated at Rugby School in the first half of the 19th century. One of the two codes of rugby football, it is based on running with the ball in hand. In it ...
's European Rugby Cup to partner two rugby tournaments in Europe. Amlin is the title sponsor of the
Amlin Challenge Cup
The EPCR Challenge Cup is an annual rugby union competition organised by European Professional Club Rugby (EPCR). It is the second-tier competition for clubs based in European leagues behind the European Rugby Champions Cup. From its inception ...
and a premium partner of the
Heineken Cup. In 2010
Essex County Cricket Club signed Amlin as its sponsor and in early 2014 Amlin signed a three-year deal to become the platinum sponsor of
Essex County Cricket Club. The company also sponsors the Eventing Grand Prix at
Hickstead Hickstead may refer to:
* All England Jumping Course at Hickstead
The All England Jumping Course at Hickstead, known widely as Hickstead, is an equestrian centre in West Sussex, England, principally known for its showjumping. It hosts two inte ...
and the
UK Youth
UK Youth is a national youth work charity founded in 1911 that delivers national programmes to provide opportunities to young people. The charity is an umbrella body with 40 local youth associations from across England. UK Youth's national programm ...
London Art Show. Amlin announced the sponsorship of the
FIA Formula E Championship
Formula E, officially the ABB FIA Formula E World Championship, is a single-seater motorsport championship for electric cars. The series was conceived in 2011 in Paris by FIA president Jean Todt and Spanish businessman Alejandro Agag, who ...
racing team
Amlin Aguri
Team Aguri, formerly Amlin Aguri and officially the Team Aguri Formula E Team, was an international motor racing team founded by former Formula One and 24 Hours of Le Mans driver Aguri Suzuki (Executive Chairman) and Mark Preston (Team Principal ...
in 2014 and
Andretti Autosport
Andretti Autosport is an auto racing team that competes in the IndyCar Series, Indy Lights, Indy Pro 2000, and Formula E. The team also has a 37.5% ownership stake in the Australian Supercars Championship touring car team, Walkinshaw Andretti ...
in 2015.
Notable losses
On 11 September 2001 Syndicate 2001 suffered a $137.2m loss from the
terrorist attacks
The following is a list of terrorist incidents that have not been carried out by a state or its forces (see state terrorism and state-sponsored terrorism). Assassinations are listed at List of assassinated people.
Definitions of terrori ...
that day.
In 2011 Amlin made significant losses after £500m in claims from disasters including the
Fukushima earthquake and Thai floods. In January 2012 the company paid out a small percentage of the total claims resulting from the
Costa Concordia
''Costa Concordia'' () was a cruise ship operated by Costa Crociere. She was the first of her class, followed by sister ships ''Costa Serena'', '' Costa Pacifica'', ''Costa Favolosa'' and ''Costa Fascinosa'', and ''Carnival Splendor'' built for ...
disaster.
References
External links
Official site
{{Authority control
Companies formerly listed on the London Stock Exchange
Insurance companies of the United Kingdom
Financial services companies established in 1998
1998 establishments in England
Sumitomo Group
MS&AD Insurance Group
2016 mergers and acquisitions