Amlin
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| Type | Public (LSE: AML) |
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| Industry | Insurance |
| Founded | 1998 |
| Headquarters | London |
| Key people | Roger Taylor, (Chairman) Charles Philipps, (CEO) |
| Revenue | £1,976.7 million (2011)[1] |
| Operating income | £(165.9) million (2011)[1] |
| Net income | £(149.5) million (2011)[1] |
| Website | www.amlin.com |
Amlin plc (LSE: AML) is an insurance group which specialises in providing insurance cover to commercial enterprises and reinsurance protection to other insurance companies globally.
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Contents
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History
The Company was formed in 1998 through the merger of Angerstein Underwriting Trust plc and Murray Lawrence Group plc (the name was derived by combining 'A' from Angerstein, 'ML' from Murray Lawrence Group and 'IN' from Insurance).[2] In 2008 it bought Anglo French Underwriters[3] and in 2009 it acquired Fortis Corporate Insurance for €350m.[4] In 2011 it made significant losses after £500m in claims from disasters including the Fukushima earthquake and Thai floods.[5] In December 2011 Amlin issued a 'catastrophe bond' with a yield of 16.75% to try and protect shareholders from the worst effects of such occurances[6] but in January 2012 the company was hit by the Costa Concordia disaster.[7]
Operations
Amlin is organised as follows:[8]
- Amlin UK (commercial insurance business, operating through Syndicate 2001, based in Chelmsford)
- Amlin France (small and medium enterprse specialty business, operating through Syndicate 2001 and ACI, based in Paris)
- Amlin Bermuda (mainly reinsurance business)
- Amlin Corporate Insurance (marine, commercial property and liability insurance in the Benelux region, based in the Netherlands and Belgium)
- Amlin Re Europe (non-life treaty reinsurance business for insurers in the Continental Europe)
- Amlin Singapore (specialty business, operating through the Lloyd's Asia platform)
Sponsorship
In 2009 the company became the title sponsor of Rugby Union's European Challenge Cup[9] and in 2010 Essex County Cricket Club signed Amlin as its sponsor.[10] The company also sponsors the Eventing Grand Prix at Hickstead[11] and the UK Youth London Art Show.[12]
References
- ^ a b c Preliminary Results 2011
- ^ "Angerstein Underwriting Trust acquires Murray Lawrence". Thompson M&A. 28 September 1998. http://www.alacrastore.com/storecontent/Thomson_M&A/Angerstein_Underwriting_Trust_acquires_Murray_Lawrence_Hldgs-779156040. Retrieved 6 April 2012.
- ^ "Amlin completes acquisition of Anglo French Underwriters". Post on line. 26 November 2008. http://www.postonline.co.uk/post/news/1262244/amlin-completes-acquisition-anglo-french-underwriters. Retrieved 6 April 2012.
- ^ "Amlin acquires Fortis Corporate Insurance for €350m". The Telegraph. 3 June 2009. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/5434446/Amlin-acquires-Fortis-Corporate-Insurance-for-350m.html. Retrieved 6 April 2012.
- ^ "Natural disasters push Amlin to £194m loss". The Telegraph. 5 March 2012. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9123342/Natural-disasters-push-Amlin-to-194m-loss.html. Retrieved 6 April 2012.
- ^ "Lloyd's of London insurer Amlin launches 'catastrophe bond'". Sharecast. 24 December 2011. http://www.dailymail.co.uk/money/markets/article-2078164/Lloyds-London-insurer-Amlin-launches-catastrophe-bond.html. Retrieved 13 April 2012.
- ^ "Amlin estimates pay out on cruise disaste". Sharecast. 7 February 2012. http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19861952. Retrieved 13 April 2012.
- ^ "Amlin reports fast rising rates in Q3". Post on line. 17 November 2011. http://www.postonline.co.uk/post/news/2125631/amlin-reports-rates-rising-faster-q3. Retrieved 6 April 2012.
- ^ "Insurer Amlin to sponsor rugby union's European cup". 24 September 2009. http://www.marketingweek.co.uk/insurer-amlin-to-sponsor-rugby-unions-european-cup/3004743.article. Retrieved 14 April 2012.
- ^ "Essex Cricket Club signs Amlin as sponsor". 23 April 2010. http://www.sportspromedia.com/news/essex_cricket_club_signs_amlin_as_sponsor/. Retrieved 14 April 2012.
- ^ "Hickstead latest news". 28 April 2011. http://www.hickstead.co.uk/news/amlin-ensures-the-eventing-grand-prix-for-two-years!.aspx. Retrieved 14 April 2012.
- ^ "Amlin sponsors art show". http://www.postonline.co.uk/post/news/1555836/amlin-sponsors-art. Retrieved 14 April 2012.
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