Amlin has said that its newly formed business, Amlin Bermuda (ABL), capitalised at $1bn, has now started to trade.
The company said a team of underwriters, led by 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 said: "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."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
