Amlin to open in Illinois
AMLIN PLC
PRESS RELEASE
For immediate release
24 July 2008
Amlin to open in Illinois
Amlin, the leading Lloyd's insurer, is to establish a representative office in Chicago. Amlin Illinois Inc, will work within the existing Lloyd's infrastructure, utilising the Lloyd's licence in Illinois to write admitted business which may not otherwise reach the London market. Amlin Illinois will open for business in early August.
Amlin has recruited Paul Glenton as Vice President to build this new operation specialising in property, casualty, auto and marine cargo business and reporting to Amlin Illinois President, David Harris. In 2002, Glenton helped set up Navigators' Midwest property and casualty operation, which has now expanded beyond the original six US states but remains centred on Illinois.
As demonstrated in Singapore, Amlin's strategy for international distribution is to work with our broking partners to increase business within Lloyds but importantly, to use the representative offices to better understand regional market requirements and the role that we can play using the underwriting expertise we have in place.
Duncan Dale, Divisional Underwriter of Property and Casualty, commented, 'We already write some admitted business through Lloyd's Illinois and we see this new development as beneficial in servicing that business. It will also afford us a keener understanding of local market conditions and the opportunities available to us by working within the admitted licence framework provided by Lloyd's.'
David Harris, President, Amlin Illinois said, 'Our approach to international development has been to work with our broking partners and to support and use the existing licence structure provided by Lloyd's. We believe Chicago gives us a strong base from which to support our existing relationships, build new partnerships and encourage more business into the London market where we can demonstrate our underwriting expertise.'
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Enquiries:
Hannah Bale, Head of Group Communications 0207 746 1118
Amlin plc
Notes to Editors:
Amlin plc is a recognised leader in the London insurance and reinsurance market, providing a global client base with risk management solutions. Amlin specialises in four business areas: Aviation; Marine; UK commercial; and International property and casualty insurance and reinsurance. A FTSE-250 quoted company Amlin owns 100% of its £825m capacity for 2008, which is written through Lloyd's Syndicate 2001. Amlin's Syndicate is rated 'A+' (Excellent) by AM Best and 'A1' (Stable) by Moody's.
In November 2005, the company established Amlin Bermuda, a reinsurance business capitalised at US$1 billion and rated A (Excellent) by A.M. Best and A by Standard & Poor's. In November 2007, the company established Amlin Singapore as part of the Lloyd's Asia platform, to provide regional clients with marine energy, cargo, property, sabotage and terrorism insurance.
This information is provided by RNS
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