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Daily Insurance Industry News
Friday 26th of May 2017
June 4, 2009

FortisEffect threatens Amlin with lawsuit

by David Masters

Story link: FortisEffect threatens Amlin with lawsuit

Fortis shareholders have threatened legal action against the Dutch state’s sale of Fortis Corporate Insurance to UK-based Amlin.

FortisEffect, the Fortis shareholders’ foundation, claims the sale is illegal.

FortisEffect lawyer Adriaan de Gier has written to the Dutch state and to Amlin claiming the deal will hurt Fortis shareholders.

Amlin said it is aware of the lawsuits and that the risks relating to these have been eliminated through warranties obtained in the deal with the Dutch government.

“We believe that any risk related to these lawsuits are effectively eliminated by the warranties we have obtained in the transaction documents,” said Amlin spokesperson Hannah Bale.

The £300 million acquisition of Fortis Corporate Insurance makes Amlin one of the biggest providers of marine, liability, and commercial property insurance in the Netherlands and Belgium.

 

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