Completion of Acquisition of Crowe Livestock
Completion of Acquisition of Crowe Livestock
Amlin Plc
COMPLETION OF ACQUISITION OF CROWE LIVESTOCK UNDERWRITING LIMITED
Further to the announcement dated 25 November 2009 in connection with the proposed acquisition of Crowe Livestock Underwriting Limited (“Croweâ€) by Amlin plc (“Amlinâ€), Amlin is pleased to announce that, following the receipt of approval from the Financial Services Authority, the acquisition of Crowe was completed today.
| Enquiries: | Â | Â | |
| Hannah Bale, Head of Communications, Amlin plc | 020 7746 1118 |
Notes to Editors:
Amlin plc is a leading independent insurer operating in the Lloyd’s, UK, Continental European and Bermudian markets. We specialise in providing insurance cover to commercial enterprises across a broad range of risks including aviation, marine and international property & casualty. We also provide reinsurance protection to other insurance companies around the world. A FTSE-250 quoted company, Amlin owns 100% of its £825m Lloyd’s capacity for 2009, wholly written through Syndicate 2001. Syndicate 2001 is highly rated at ‘A+’ (Excellent) by AM Best and ‘A1’ (Stable) by Moody’s.
In 2005, the company established Amlin Bermuda Ltd as a reinsurance business capitalised at US$1 billion and it is similarly highly rated at ‘A’ (Excellent) by A.M. Best and ‘A’ by Standard & Poor’s. Amlin also set up operations in Singapore (2007) and in Illinois, USA (2008) to service regional and local clients and acquired Anglo French Underwriters, the largest Lloyd’s coverholder in France in November 2008.
In July 2009, Amlin acquired Fortis Corporate Insurance NV (now renamed Amlin Corporate Insurance), a leading provider of corporate property and casualty insurance in the Netherlands and Belgium.
Crowe Livestock Underwriting was established in 1996 by Emma Stamper to carry on the development of the specialist underwriting account that she had built up while working in the Lloyd’s market for over 20 years. Crowe is a recognised international leader in the livestock sector with strong brand recognition and well established credentials on setting animal welfare standards. Crowe has strong relationships with a wide range of clients and producers, using binding authorities as well as facultative policies to access risks. The company underwrites a diverse book of livestock business worldwide using individually tailored insurance solutions to meet the needs of its clients. The vendors of Crowe were certain members of Crowe’s board of directors. Crowe had gross assets of £1.9 million as at 31 May 2009.
Latest directors dealings
- 40 minutes ago Kazera Global
- 40 minutes ago Redcentric
- 2 days ago City of London Investment Group
- 2 days ago Aberdeen Group plc
- 2 days ago NATWEST GROUP