MS Amlin
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The ratings agency said the upgrade reflected MS Re's “very strong” balance-sheet.
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The executive will be based in Zurich and report to international CUO Joerg Bruniecki.
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Simon Morgan will succeed Sam Geddes as head of property and allied lines.
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He will oversee the syndicate’s catastrophe modelling capabilities.
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The facility will target operators across the US, onshore and offshore.
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The result was a profitability turnaround of £300mn.
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The MS Re CEO said 1 January oversubscription levels on cat were not notable.
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The company will use MS Amlin to drive international growth.
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The carrier has rebranded its UK entity from MSI EU to MSIG UK.
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Senior underwriter Tom Horswill is to relocate from London to Dubai to lead the offering.
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Finance minister describes the activity as “widespread, repeated and continuous”.
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Current marine head Laurence Humberstone is set to retire after 19 years at the carrier.
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The improved underwriting performance was driven by reduced losses relating to Russia and Ukraine.
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The underwriter will retain his responsibilities as lead underwriter for credit and political risk.
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Grant Baxter joined the business last year and was named CUO in a restructure under CEO Andrew Carrier.
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The executive has also worked for Aviva in senior group finance roles.
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Insurance Insider has compiled a bite-sized wrap-up of the exclusive news stories and CEO interviews from this year's Monte Carlo Rendez-Vous.
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The executive will move to the (re)insurer after almost two years at Gallagher Re, a company he joined after the acquisition of Willis Re in late 2021.
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Andrew Carrier said after wide ranging remedial work, the Lloyd’s carrier was targeting “measured, profitable growth” for 2024.
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The resignation follows the appointment of Sedgewick's Julie Ross to lead the team.
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The reduced impact from the war in Ukraine helped the carrier continue a spell of profitable underwriting.
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The hire follows an exodus from the recall team, as Mitchell, Fouquet and Fornah resign.
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The fronting company said impairment to Vesttoo’s LoC collateral will be "immaterial".
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Lloyd Fornah’s departure follows the resignations of Ed Mitchell and senior underwriter Vanessa Fouquet earlier this year.
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Previously, Shaw was lead underwriter at MS Reinsurance and lead underwriter at MS Amlin’s Bermuda office.
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Ed Mitchell and Vanessa Fouquet are set to join BluNiche and Dual, respectively.
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Parent company MS&AD reported a net profit for fiscal 2022 of 161.5bn yen.
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It emerged in March that Tim Welsh was leaving MS Amlin after almost three decades at the business.
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The pair will report to CRO Vishal Desai.
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MS Amlin has added ex-JLT broker Lacy Lighterness to its cargo team.
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MS Amlin Syndicate 2001 – one of the largest in the Lloyd’s market – reported a combined ratio of 99.9% for 2022.
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The results show 2022 was the first year in which MS Amlin Syndicate 2001 has reported an underwriting profit since 2015.
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Jessica Turner will report to Martin Burke, director of underwriting performance.
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The property underwriter has also worked for Beazley and Liberty Mutual.
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The appointment follows the business unit’s rebrand last year.
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Alun Thomas will report to Bermuda CEO Chris Bonard.
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Group CEO Noriyuki Hara told NikkeiAsia the company was targeting groupwide adjusted ROE of 10% by 2025.
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Execution of the legacy transaction ticks off another major piece of work for MS Amlin in its turnaround of Syndicate 2001.
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The carrier also recorded a deterioration in investment performance amid financial market turbulence.
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His departure comes after a phase of rebuilding the carrier’s commercial property team.
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The vehicle was upsized by 20% from 2022.
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Having joined the company in 2016, the executive was working as a lead underwriter in LATAM prior to the announcement.
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As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.
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Andrew Carrier’s appointment as CEO was announced in October, with Andrew Slabbert taking on the top role at MSIG in the US.
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The CVC-backed legacy player edged out Enstar in the process which was run by Gallagher Re.
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The pub group and bakery chain will dispute elements of judgements issued in October in UK Covid-related BI lawsuits.
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The carrier also posted £97mn of Ukraine losses and a £157mn investment loss.
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