London market insurers launch dual-stamp capacity for brokers

MS Amlin and Mitsui Sumitomo Insurance Company (MSIG UK) have expanded their London market footprint with the launch of a new dual-stamp underwriting capability.

The move allows MS Amlin underwriters to write risks using both their existing Lloyd’s stamp and MSIG UK’s company paper, providing brokers with increased capacity and a single access point to both markets.

Lines of business where this proposition will be available include natural resources, trade credit and political risk and accident and health lines.

Andrew Carrier, chief executive at MS Amlin, said: “We’re committed to driving growth by exploring innovative ways to distribute our products, access new clients and bring more business into the London market.

“This solution simplifies trading for brokers, providing a single gateway to secure capacity in the Lloyd’s and company markets, broader coverage options and greater flexibility over risk placement.”

Growth opportunities

The companies will target lead and follow opportunities in the open market, with plans to extend the capability to line slips and binders as operations mature.

As well as providing a single gateway to both the Lloyd’s and company markets, the proposition aims to offer brokers a consistent claims service.

Martyn Rodden, chief executive at MSIG UK, said: “There are substantial advantages in harnessing MSI’s global scale, strength and market presence.

“By working closely with MS Amlin, we can tap into new growth opportunities and expand our market reach.

“This joint solution will give brokers seamless access to two balance sheets and help them to place their client’s risks more efficiently.

“It also opens up new client groups – such as some banks on the trade credit side – which might not traditionally use Lloyd’s.”