Amlin Plc
AMLIN PLC
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PRESS RELEASE
For immediate release
1 August 2008
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Amlin acquires renewal rights to HCC Fleet business
Amlin plc ('Amlin') announces that Syndicate 2001 has acquired for cash, the
renewal rights to approximately £20 million of general commercial motor fleet
insurance from HCC Underwriting Agency Limited, which will be integrated into
Amlin Insurance Services, the UK Commercial Division of the Amlin Group. No
other assets or liabilities have been acquired through the purchase.
Brian Carpenter, Divisional Underwriter of UK Commercial said: 'This acquisition
fits well with our strategy to develop our UK book and further demonstrates our
commitment to support our London Market brokers.'
Enquires:
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Hannah Bale 020 7746 1118
Group Communications, Amlin plc
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Notes to Editors:
Amlin - UK Commercial
Amlin is a UK leader in fleet motor business, underwriting a wide range of
commercial motor fleet classes in the UK including coach, haulage, commercial
vehicle, private car fleet, private/public hire and self drive hire via the
Summit brand. As a statutory class of business our policy provides unlimited
cover for Third Party injury liability with high limits for Third Party property
damage dependent on the type of vehicle.
Our Motor, Liability and Commercial Combined accounts are written 100%, while we
lead a high proportion of our Professional Indemnity account. We write business
through a variety of distribution channels supporting both retail and wholesale
broker distribution.
Amlin plc is a recognised leader in the London insurance and reinsurance market,
providing a global client base with risk management solutions. Amlin specialises
in five business areas: Aviation; Marine; UK commercial; International Property
and Casualty and Reinsurance.
A FTSE-250 quoted company Amlin owns 100% of its £825m capacity for 2008, which
is written through Lloyd's Syndicate 2001. Amlin's Syndicate is rated 'A+'
(Excellent) by AM Best and 'A1' (Stable) by Moody's.
HCC Underwriting Agency Ltd (HCCUA) is a Lloyd's managing agency, authorised and
regulated by the Financial Services Authority (Reg No 228121). HCCUA is member
of HCC Insurance Holdings, Inc. (NYSE symbol: HCC) group. Headquartered in
Houston, Texas, HCC Insurance Holdings, Inc. (HCC) is a leading international
specialty insurance group with offices across the United States and in Belgium,
Bermuda, Ireland, Spain and the United Kingdom. HCC has assets of nearly $8.2
billion, shareholders' equity in excess of $2.5 billion and is rated AA (Very
Strong) by Standard & Poor's and AA (Very Strong) by Fitch Ratings. In addition,
HCC's domestic property and casualty insurance companies are rated A+ (Superior)
by A.M. Best Company.
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