MS Amlin and MSIG UK Introduce Innovative Dual-Stamp Underwriting Capability
Leading global insurer and reinsurer, MS Amlin, in collaboration with its sister entity, Mitsui Sumitomo Insurance Company (Europe) (MSIG UK), has introduced a groundbreaking dual-stamp underwriting capability. This strategic move aims to bolster their presence within the London Market.
The newly launched solution empowers MS Amlin underwriters to utilize both its Lloyd’s stamp and MSIG UK’s company paper. This dual approach offers brokers increased capacity and a unified access point to both markets. This initiative aligns closely with the overarching strategy of their parent company, Mitsui Sumitomo Insurance Company, Limited (MSI), to enhance the operational capacity of its UK subsidiaries.
Initially, this dual-stamp offering will cater to Natural Resources, Trade Credit & Political Risk, and Accident & Health sectors. It enables underwriters to craft individual risk coverages using one or both capacity sources. MS Amlin and MSIG UK aim to capitalize on lead and follow opportunities in the open market, with future plans to extend into line slips and binders as they continue to refine their operations.
Beyond providing a simple entry to both Lloyd’s and company markets, this solution guarantees a streamlined and consistent claims service for brokers. Andrew Carrier, CEO of MS Amlin, commented, “We are dedicated to driving growth by exploring innovative distribution methods, reaching new clientele, and enhancing business flow into the London market.
“This solution simplifies trading processes for brokers, furnishing a singular gateway to secure capacity across both the Lloyd’s and company markets, offering broader coverage options, and providing more flexibility in risk placement.
“Our partnership with MSIG UK leverages our collective reach, unlocking new markets and underwriting opportunities, thereby creating greater value for our business and brokers.”
Martyn Rodden, CEO of MSIG UK, added, “There are significant benefits in harnessing MSI’s global scale, strength, and market presence. By collaborating with MS Amlin, we can access new growth avenues and broaden our market reach.
“This joint solution facilitates seamless access to two balance sheets for brokers, enabling more efficient risk placement for their clients. It also opens doors to new client demographics, such as certain banks involved in trade credit, which might not traditionally engage with Lloyd’s.
“This collaboration exemplifies the creativity and innovation achievable through group-wide partnerships. Together with MS Amlin, we remain committed to crafting tailored solutions that simplify the process for brokers seeking coverage for their clients.”
