Amlin PLC
05 December 2005
Press Release
For Immediate Releass
5th December 2005
Amlin Bermuda begins trading
Amlin plc, the leading insurer, is pleased to announce that its newly formed
business, Amlin Bermuda Ltd ('ABL'), has now started to trade.
ABL, which has been registered by the Bermuda Monetary Authority as a Class 4
Insurer under the Bermuda Insurance Act of 1978, has been capitalised at $1
billion. A team of underwriters, led by Mr John Andrews, a former Syndicate
2001 senior underwriter, is in situ in Bermuda, ready to participate in the 1
January renewal season.
ABL is focused on establishing a geographically spread catastrophe and property
reinsurance account. Additionally, to provide ABL with increased diversity, it
is likely to underwrite a whole account quota share and some class specific
surplus treaties of Syndicate 2001.
Charles Philipps, Chief Executive of Amlin plc commented, 'This is an exciting
new development for Amlin, providing a further avenue for growth. To be up and
running in good time for the January 2006 renewals is the result of some
excellent teamwork across the Group. I believe we are well positioned to make
every success of this new venture.'
- ends -
Enquiries:
Charles Philipps, Amlin plc 0207 746 1000
Richard Hextall, Amlin plc 0207 746 1000
David Haggie, Haggie Financial Limited 0207 417 8989
This information is provided by RNS
The company news service from the London Stock Exchange
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