24th Jul 2008 15:36
AMLIN PLC Amlin acquires stake in Miles Smith Amlin, the leading specialist non-life insurer, announces that it has acquired aminority shareholding in independent UK retail broker, MS plc. Through suchinvestments Amlin aims to develop its existing longstanding businessrelationships with selected UK retail and wholesale brokers and thus expand andenhance the product range available to their clients. MS plc is an independent broker based in the City of London but covering theentire UK with direct and immediate access into Lloyd's. Paul Chainey, Chief Executive of MS plc commented: "We have worked with Amlinfor many years, mainly on commercial motor insurance, and we look forward tojointly developing other lines including SME property, as well as productenhancements for our existing clients." Charles Philipps, Amlin's Chief Executive commented, "This investment forms partof Amlin's ongoing strategy to broaden our UK distribution through selectivepartnerships with high quality brokers." Enquiries: Hannah Bale, Head of Group Communications 0207 746 1118Amlin 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 specialisesin four business areas: Aviation; Marine; UK commercial; and Internationalproperty and casualty insurance and reinsurance. A FTSE-250 quoted company Amlinowns 100% of its £825m capacity for 2008, which is written through Lloyd'sSyndicate 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 businesscapitalised at US$1 billion and rated A (Excellent) by A.M. Best and A byStandard & Poor's. In November 2007, the company established Amlin Singapore aspart of the Lloyd's Asia platform, to provide regional clients with marineenergy, cargo, property, sabotage and terrorism insurance. MS plc (Miles Smith) is an independent insurance broker based in the City ofLondon, broking premium income in excess of £100m. The business was founded in1925 and has developed a highly sophisticated range of products and services formany specialist and high-risk industries including construction, environmentaland waste management and asbestos removal as well as property, motor fleet,leisure and entertainment. Copyright Business Wire 2008Related Shares:
Aston Martin Lagonda