Amlin’s Holt takes leave of absence
Amlin's well-regarded head of underwriting has taken a leave of absence from the Lloyd's insurer because of ill-health.
In an announcement to the London Stock Exchange this morning, Amlin confirmed underwriting director Tony Holt is undertaking medical treatment which "necessitates him taking a few months off work".
The company added that, in his absence, its marine and UK commercial divisional directors Simon Beale and Brian Carpenter will jointly assume Holt's responsibilities.
Holt, together with Amlin CEO Charles Philipps, is widely credited for Amlin's progress in the last five years which, in the years since the WTC loss, has seen the company lauded by analysts as the leading quoted Lloyd's insurer.
In the past six months, the company has refuted speculation that Holt would step down at the end of 2008.
ABN AMRO analyst Joanna Parsons described Holt as "highly regarded" but added:
"We do not expect this to have any impact on figures as we believe the strength of Amlin lies in the depth/breadth of its team, not any one individual, however impressive."
Among falling equity prices across European exchanges, Amlin's shares were trading down 3.2 percent this morning at 259.5p on the London Stock Exchange.