MS Amlin, the Lloyd’s global re/insurer, and Mitsui Sumitomo Insurance Company (Europe) (MSIG UK) have expanded their London Market presence with the introduction of a new dual-stamp underwriting capability.
The initiative provides brokers with access to both MS Amlin’s Lloyd’s platform and MSIG UK’s company paper through a single entry point.
Under the model, MS Amlin underwriters will be able to write risks using either or both capacity sources. Initially, the solution will be available for natural resources, trade credit & political risk, and accident & health lines.
The companies noted that they will focus on lead and follow opportunities in the open market, with plans to extend the capability to line slips and binders as the model develops.
The expansion also aligns with the broader strategy of parent company Mitsui Sumitomo Insurance Company, Limited (MSI), which previously announced plans to enhance the capacity of its UK subsidiaries.
Martyn Rodden (pictured above), CEO of MSIG UK, said the solution gives brokers access to two balance sheets, improving risk placement efficiency and enabling engagement with new client segments, including banks in the trade credit sector that may not typically use Lloyd’s.
This latest development follows a robust 2024 financial year for MS Amlin, with the Lloyd’s re/insurer recently reporting insurance service profits from underwriting of £116 million, up from £45 million during the same period last year.
In the UK, dual stamp underwriting enables insurers to provide clients with access to both Lloyd's syndicate capacity and company market capacity under a single policy. This mechanism facilitates broader coverage and can streamline the underwriting process.
Another notable implementation was recently announced following the Aviva-Probitas transaction. In December, Aviva expanded its offerings at Lloyd's through the Probitas platform, introducing five new classes of business. These policies, available for binding from January 1, are written by Aviva's existing underwriting leads with dual-stamp capability.
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