In November 2008, the Group acquired Financière Europe Assurance SAS, which has been renamed Amlin France SAS. Amlin France SAS owns Anglo French Underwriters SAS (AFU). Drawing its strength from a large network of brokers across France, AFU is able to offer a wide range of insurance products designed to respond to the needs of both individuals and small to medium-sized corporate clients. AFU’s business is situated mainly in France but also includes some exposure in Spain. It writes a diverse book of business including property, cargo, professional liability and specie through a network of more than 1,300 independent retail brokers. The portfolio consists of the following classes with maximum and average line sizes. Amlin did not underwrite much of these risks in 2008. Syndicate 2001 will commence writing the majority of these risks in 2009.
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Current maximum line size Euro m |
|
|
Property |
55 |
|
Marine |
11 |
|
Specie |
4 |
|
Professional Indemnity |
3 |
|
General Liability |
10 |
In respect of property, AFU acts as both a leading underwriter and co-insurer for industrial high hazard risks providing material damage insurance for the industrial and commercial premises of small and medium sized enterprises. AFU also provides a comprehensive package, including liability cover for discotheques, bowling alleys, restaurants, bars and casinos. Perils offered include fire, lightning and associated risks, electrical damage, water damage, storm, tempest, hail, snow and glass breakage. Optional coverages include business interruption, indirect losses, theft from individuals and theft from break-ins. Building insurance is also offered for owners who are not occupiers.
In the marine field, AFU provides yacht insurance which includes cover for damage, theft and liability as well as for the costs of marine assistance and marine personal accident. WorldÂwide stock and transit insurance is also provided with All Risks coverage granted on a start to finish basis from the point of supplier to the point of delivery. Transit cover includes all periods when the goods are stocked, in whatever location and without any break in coverage.
AFU also provides jeweller’s block for high value contents. All risks coverage is given for stock within the premises, including for break-in, holdÂup, fire and water damage. Cover is also given for commercial retail premises such as gunsmiths, perfume and clothing shops and art galleries, including damage caused to art while on show at exhibitions and damage to art kept in private residences. A comprehensive multi-risk product is provided for retailers which includes an extension for fire and water damage within the premises, liability coverage and the preservation of goodwill or business interruption following a loss.
Professional indemnity and financial guarantee insurance is provided to insurance and banking intermediaries as well as financial advisers, real estate agents and financial and investment consultants. This is a multi-layered package which responds to the particular needs of several regulated professions which may require differing types of cover.
AFU also offers insurance for events, including cancellation cover, organisers’ liability, all risks exhibition cover and all risks coverage on equipment belonging to, hired by or installed by the assured. AFU also provides personal accident insurance for professions involving risk and the practice of sporting activities which are deemed hazardous.