Amlin
| File:Amlin logo rgb.web-version-jpg.jpg | |
| Company type | Public (LSE: AML) |
|---|---|
| Industry | Insurance |
| Founded | 1998 |
| Headquarters | London |
Key people | Roger Taylor, (Chairman) Charles Philipps, (CEO) |
| Revenue | £2,141.4 million (2012)[1] |
| £291.3 million (2012)[1] | |
| £247.7 million (2012)[1] | |
Number of employees | 1,700 (2013) |
| Website | www.amlin.com |
Amlin plc is an insurance group which specialises in providing insurance cover to commercial enterprises and reinsurance protection to other insurance companies globally. The firm is a constituent of the FTSE 250 Index.
History
The Company was formed in 1998 through the merger of Angerstein Underwriting Trust plc and Murray Lawrence Group plc (the name was derived by combining 'A' from Angerstein, 'ML' from Murray Lawrence Group and 'IN' from Insurance).[2] In 2008 it bought Anglo French Underwriters[3] and in 2009 it acquired Fortis Corporate Insurance for €350m.[4] In 2011 it made significant losses after £500m in claims from disasters including the Fukushima earthquake and Thai floods.[5] In December 2011 Amlin issued a 'catastrophe bond' with a yield of 16.75% to try and protect shareholders from the worst effects of such occurrences[6] in January 2012 the company paid out a small percentage of the total claims resulting from the Costa Concordia disaster.[7]
Acquisitions
Headquarters
Amlin is currently based at St. Helen's. In December 2013, Amlin signed an agreement to move to a new building at 122 Leadenhall Street.[8]
Operations
Amlin is organised as follows:[9]
- Insurance Markets
Amlin Belgium Europe Marine Amlin France (small and medium enterprise specialty business, operating through Syndicate 2001 and ACI, based in Paris) Lloyd’s Netherlands United Kingdom
- Reinsurance Markets
- Amlin Bermuda (mainly reinsurance business)
- Amlin Europe
- Amlin UK (commercial insurance business, operating through Syndicate 2001, based in Chelmsford)
- Amlin Corporate Insurance (marine, commercial property and liability insurance in the Benelux region, based in the Netherlands and Belgium)
- Amlin Re Europe (non-life treaty reinsurance business for insurers in the Continental Europe)
- Amlin Singapore (specialty business, operating through the Lloyd's Asia platform)
Financial Ratings
- Syndicate 2001
- A. M. Best: A+ (Superior)
- Moody's Investors Service: A2 (Stable)
- Standard & Poor's: Lloyd’s Syndicate Assessment 4 (Stable)
- Amlin AG
- A. M. Best: A (Excellent)
- Moody's Investors Service: A2 (Stable)
- Standard & Poor's: A (Stable)
- Fitch Ratings: A+ (stable)
- Amlin Europe NV
- Fitch Ratings: A+ (stable)
- Standard & Poor's: A- (Stable)
Sponsorship
- In 2009 the company became the title sponsor of Rugby Union's European Challenge Cup[11]
- Amlin UK is headquartered in Chelmsford and in 2010 Amlin entered a community-wide sponsorship agreement with Essex County Cricket Club.[12]
- As a major bloodstock insurer, Amlin also sponsors four jockeys Ryan Moore, Richard Johnson, Andrew Thornton and Tom O’Brien. [13]
- Amlin sponsors the annual UK Youth London Art Show event held in October at the Royal College of Art. Over 1,000 art works valued from £200 to £4,000 are offered for sale by some 140 artists, both emerging talents and established names. .[14]
References
- ^ a b c Preliminary Results 2012
- ^ "Angerstein Underwriting Trust acquires Murray Lawrence". Thompson M&A. 28 September 1998. Retrieved 6 April 2012.
- ^ "Amlin completes acquisition of Anglo French Underwriters". Post on line. 26 November 2008. Retrieved 6 April 2012.
- ^ "Amlin acquires Fortis Corporate Insurance for €350m". The Telegraph. 3 June 2009. Retrieved 6 April 2012.
- ^ "Natural disasters push Amlin to £194m loss". The Telegraph. 5 March 2012. Retrieved 6 April 2012.
- ^ "Lloyd's of London insurer Amlin launches 'catastrophe bond'". Sharecast. 24 December 2011. Retrieved 13 April 2012.
- ^ "Amlin estimates pay out on cruise disaster". Sharecast. 7 February 2012. Retrieved 13 April 2012.
- ^ "Amlin rents space in the Cheesegrater". The Telegraph. December 2012. Retrieved 13 January 2014.
- ^ "Amlin reports fast rising rates in Q3". Post on line. 17 November 2011. Retrieved 6 April 2012.
- ^ "Financial strength ratings". Retrieved 15 January 2014.
- ^ "Insurer Amlin to sponsor rugby union's European cup". 24 September 2009. Retrieved 14 April 2012.
- ^ "Essex Cricket Club signs Amlin as sponsor". 23 April 2010. Retrieved 14 April 2012.
- ^ "Racing/Amlin's Eventing Sponsorship". Retrieved 17 January 2014.
- ^ "Amlin sponsors art show". 22 September 2009. Retrieved 14 April 2012.