ACI buy boosts Amlin marine role
March 02, 2010
MARINE is Amlin’s largest class of business, following the acquisition of the former Fortis Corporate Insurance unit. More than half of the unit that was subsequently rebranded Amlin Corporate insurance was marine business and the class now represents 26% of the total Amlin book. At the group’s London market operation Amlin London, which includes its Lloyd’s syndicate, marine accounted for premium totalling £203.9m with aviation adding a further £58.2m. Post acquisition, approximately 64% of ACI’s business was marine insurance, bringing marine to approximately 14% of Amlin’s overall insurance business in 2009. On an annualised basis, the marine share would rise to 26%. Amlin forecast that this would grow further in 2010, adding: “This reinforces our relevance to brokers and insureds in this area and places us among the leading marine underwriters in the world.” Since its acquisition in July last year Amlin Corporate Insurance has...