Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 22nd of May 2018
January 28, 2011

Amlin announces pair of acquisitions

by Richard Kilner

Story link: Amlin announces pair of acquisitions

Amlin plc’s wholly-owned subsidiary Amlin Corporate Services Limited has announced that it has completed the acquisition of J R Clare Underwriting Agencies Limited from Mr John Clare.

JCUA is a managing general agent which makes around £30m in UK household and commercial insurance premium income.

From this point forward, Amlin UK will underwrite 100% of JCUA’s business.

For the last 12 years JCUA has successfully sourced business for London Market underwriters, but new solvency requirements mean that it lacked the capital to continue to fund its operations.

In related news, Amlin plc has stated that a wholly owned subsidiary has agreed to acquire Lead Yacht Underwriters Limited from members of Lead Yacht’s board of directors, subject to approval from the FSA.

Lead Yacht was established in London 14 years ago as an underwriting agency and global leader in super-yacht insurance.

Amlin Chief Executive Charles Philipps described the Lead Yacht acquisition as a prime opportunity for the firm to augment its existing yacht business.

 

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