MIAMI, March 13, 2015 (GLOBE NEWSWIRE) -- Amlin plc (LON:AML), a London-headquartered, global specialty insurer and reinsurer with more than a hundred years of underwriting experience, today officially celebrates the launch of its Miami office with a champagne reception following the opening of the platform back in October 2014. The office, located in the heart of Miami's Brickell district, offers insurance clients across Latin America strong multi-line underwriting expertise in a range of specialty lines treaties including property, catastrophe, liability, motor, engineering, surety, political risk and marine & aviation.
"Miami is a very important reinsurance hub for the Latin America market and an office here allows us to build on Amlin's excellent reinsurance franchise as well as enhance our ability to deliver Amlin's high standards of service to clients and brokers in the region," said Tom Clementi, Head of Operations of Amlin's Miami office. "Amlin has done business in Latin America for many years out of our London and Bermuda offices and with a local team here, led by Louis de Segonzac, we are now well positioned to grow and diversify that business and take it to the next level."
Reinsurance is a critical element for economic and infrastructure growth in Latin America as it provides a broad safety net for much of the world's commercial insurance coverage. Much like banking and other industries, reinsurance has become popular in Miami because the city serves as a stable marketplace to access countries with political instability or less developed regulatory environments. As an attractive place to work it also offers an increasingly attractive talent pool for professionals in the reinsurance industry.
Louis de Segonzac, Head of Reinsurance at Amlin in Miami, stated: "As an international carrier with a Miami office, Amlin has an informed perspective on Miami's reinsurance market, why it offers good prospects for growth, and what can be expected in the years ahead. With treaty placements trending away from London, now is the ideal time to invest in Miami as we diversify and build on our existing reinsurance business in Latin America."
Amlin underwrites more than 30 classes of business through three underwriting platforms: Syndicate 2001 at Lloyd's, Amlin AG in Switzerland and Amlin Europe in the Netherlands, and is a constituent of the FTSE 250 index on the London Stock Exchange.
A launch event for Amlin's new office will be held on the evening of Friday, March 13, ahead of the 2015 FIA Formula E Miami ePrix on Saturday, March 14. Amlin is the team sponsor of Amlin Aguri racing, one of 10 teams competing in the inaugural all-electric racing series.
Amlin (LON:AML) is a global specialty insurer and reinsurer with more than 100 years of experience in the insurance markets. The company's strong foundation and superior financial strength demonstrate that it's here for the long-term. Amlin's track record is built on a proven strategy; encouraging its teams to apply the firm's successful underwriting formula, incorporating a dynamic approach to risk, while developing a geographically diverse global portfolio. Amlin underwrites more than 30 classes of business through three underwriting platforms: Syndicate 2001 at Lloyd's, Amlin AG in Switzerland and Amlin Europe in the Netherlands. Amlin plc and its underwriting subsidiaries are highly rated for their financial strength. Amlin reported full-year gross written premiums of £2.56 billion ($3.85 billion) in 2014, a combined ratio of 89% and net profit of £236.5 million ($355.4 million).
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