Lloyds global specialist reinsurer MS Amlin has launched a new sub-group, S1673, to target growth opportunities and provide brokers with greater flexibility and capabilities.
MS Amlin, named after the year Mitsui & Co. was founded in Tokyo, explained that s1673 was “inextricably linked” to its 2001 Lloyd’s syndicate and was backed by the same capital. From a Lloyd’s perspective, all risks insured through s1673 will be consolidated under its Syndicate 2001.
S1673 will reportedly support the business growth of MS Amlin’s recently established Portfolio Solutions team, which was established to capture underwriting opportunities arising from the insurer’s MS&AD global network and fast-track relationships and business developed in line with Lloyd’s Innovation and Transition Code.
The company added that the sub-syndicate will also allow it to increase its share of existing lines on MS Amlin’s Syndicate 2001 and its correlation with brokers by writing additional lines.
“MS Amlin underwriters may, at their discretion, deploy this increased risk-taking capability across all classes of business, allowing brokers to gain greater capacity to support clients with risks consistent with MS Amlin’s underwriting preferences,” MS Amlin said.
Martin Burke, chief underwriting officer at MS Amlin, commented: “This launch reflects our commitment to creative trading and exploring new commercial routes to achieve sustainable, profitable growth in an evolving market.
“s1673 will help us expand our Portfolio Solutions division, which includes leveraging our parent group’s international network to access new underwriting opportunities and expand our specialist solutions to new clients around the world.
“The sub-syndicate will also be home to enhanced capacity opportunities, enabling underwriters to selectively deploy additional capacity onto high-quality risks,” writes MS Amlin of Syndicate 2001.
“For our brokers, this provides greater flexibility and the ability to trade with ease, and allows us to support our mutual clients more effectively.
“S1673 enables us to pursue new opportunities, clearly measure their performance and support brokers more decisively on strong-performing businesses.”