20th Jan 2014 08:26
LONDON (Alliance News) - Amlin PLC Monday said its Europe business has been cleared by regulators to open a branch office and offer insurance products in Germany, in a move that will expand the FTSE 250 company's Europe business beyond the Benelux region and France.
In a statement, Amlin said the German branch will focus on building a portfolio of specialised commercial small-business property and casualty business, offering niche products. Expanding its non-marine business into Germany is part of a long-term strategy to profitably grow Amlin Europe's Continental European insurance business, according to Amlin.
Amlin Europe, which writes risks including fleet, liability, property and marine, will be led by new managing director Martin Bircks, who joins from Zurich Insurance Group where he was head of Liability, Casualty and Legal Protection, head of Product Management Commercial Lines and, from 2010, head of Marketing Unit Management Broker General Insurance.
He will take up his post as Managing Director from February 1, Amlin said.
"Amlin Europe has a well-established position in the Benelux and French markets with a strong client proposition. I am confident we will be able to develop a similar position over time in the German market," Charles Philipps, group chief executive, said in a statement.
In the first-half of the year, Amlin Europe wrote GBP364.7 million in gross premiums.
Amlin shares were Monday quoted at 429.90 pence, down 0.70 pence, or 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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