MS Amlin, the Lloyd's global specialist (re)insurer, has launched a new sub-syndicate to target innovative growth opportunities and provide greater flexibility and capacity for brokers.
Named s1673, the sub-syndicate will support the growth of business written through MS Amlin’s recently formed Portfolio Solutions team. This team has been established to capture underwriting opportunities arising from the insurer’s MS&AD global network, as well as fast-follow relationships and business under Lloyd’s innovation and transition codes.
The sub-syndicate also allows MS Amlin to increase its share and relevance to brokers in existing lines written on MS Amlin’s Syndicate 2001, by writing additional lines via s1673. This ability to take a greater share of risks can be deployed across all classes of business at the discretion of MS Amlin underwriters, giving brokers access to greater capacity to support clients, where risks are aligned with MS Amlin’s underwriting appetite. s1673 forms part of MS Amlin’s plans to achieve sustainable growth by leveraging the strength of its parent’s group network and pursuing new opportunities alongside innovative distribution approaches.
MS Amlin Chief Underwriting Officer Martin Burke said that this launch reflects their commitment to trade creatively and explore new commercial routes to sustainable, profitable growth in an evolving market.
“s1673 will help us expand our portfolio solutions division, which includes leveraging our parent group’s international network to access new underwriting opportunities and extend our specialty solutions to new clients globally. The sub-syndicate will also serve as a home for enhanced capacity opportunities, enabling underwriters to selectively deploy more capacity to high-quality risks written by MS Amlin’s Syndicate 2001. For our brokers, this provides greater flexibility and capacity to trade more easily and allows us to support our mutual clients more effectively,” he said.
Named after the year (1673) the Mitsui enterprise was founded in Tokyo, s1673 is inextricably linked to MS Amlin’s Lloyd’s Syndicate 2001, supported by the same capital. From a Lloyd’s perspective, all risks written through s1673 will consolidate under MS Amlin’s Syndicate 2001.
The sub-syndicate structure allows MS Amlin to track underwriting and financial performance separately, providing clearer insight into the performance of partnership-led and innovative distribution channels. It also offers a segmented platform for testing new ideas and, potentially, new products.