Amlin acquires renewal rights to the Trade Credit Insurance Portfolio of Royal & SunAlliance
22 October 2003
Amlin plc ('Amlin'), the leading Lloyd's insurer, announces today that its managed Lloyd's Syndicate 2001, through its service company, Amlin Credit Limited ('Amlin Credit'), has acquired the renewal rights to approximately £5 million of trade credit insurance currently written by Royal & SunAlliance Insurance plc ('R&SA') with effect from 1 December 2003. Amlin will not acquire any net assets nor assume liability for any previous business written by R&SA.
Chris Ventiroso, Managing Director of Amlin Credit, said:
'Amlin Credit, a leading specialist trade credit insurer, is well placed to service and renew R&SA's existing portfolio of trade credit insurance. This acquisition reinforces Amlin's commitment to trade credit insurance and increases its share of the credit insurance market in the UK.'
Enquiries:
Charles Philipps 020 7746 1050
Chief Executive
Amlin plc
David Haggie 020 7417 8989
Haggie Financial
Notes to Editors:
Amlin:
Amlin plc is the largest independent business operating in the Lloyd's market and focuses its activities on Syndicate 2001, of which it will own 100% of the capacity from the 2004 year of account.
