Amlin Completes Merger Of Two Subsidiaries
Amlin plc, the specialist international insurer, announced the successful completion on January 4 of the cross-border merger of two of its insurance company subsidiaries, Amlin Europe N.V. and Amlin Insurance [UK].
“The combined post-merger insurance company is called Amlin Insurance SE, a European corporate entity [Societas Europaea] domiciled in the UK. The existing European offices will continue trading through branches in the Netherlands, Belgium, France and Germany,” the company said.
“The restructuring will help align Amlin’s European commercial insurance portfolio more closely with its UK commercial business and enable it to provide a more consistent and enhanced service to its clients across all markets. The merger also simplifies the group’s corporate structure and regulatory footprint.
“All business written by Amlin Europe and Amlin Insurance [UK] prior to the merger transfers automatically to Amlin Insurance SE and it will be business as usual for their clients and brokers.
“Amlin Insurance SE has an S&P rating of A [stable], which represents a strengthening from the A- rating previously held by Amlin Europe. S&P commented that the merger showed Amlin Insurance SE to be a core part of the Amlin group and thus entitled to benefit from the group’s rating.”
