Review

Chief Executive’s statement

Organisational change

We have made a number of organisational changes both to prepare for a larger and more geographically diverse Group and to facilitate the continued sound management of our core London market business following the retirement of Tony Holt who had so ably performed the role of Group Underwriting Director since 2000.

Richard Hextall, our Group Finance Director and I had, until November 2008, dual roles with responsibilities overseeing the Group as a whole and as Managing Director and Finance Director of Amlin Underwriting Limited which is responsible for the activities of Syndicate 2001. With the growth that has been achieved at Amlin Bermuda, the acquisition of Anglo French Underwriters and a strategic desire to further expand the Group internationally, we have relinquished our executive roles in Amlin Underwriting Limited so that we can devote more time to the Group’s strategic development and better oversee the broader activities of the Group. Our roles within Amlin Underwriting Limited have been filled by David Harris and Steve McMurray. For biographical details on these two executives please click here.

We now comprise four operating divisions: Amlin London, Amlin UK, Amlin Bermuda and Anglo French Underwriters, having consolidated our former London market operations as Amlin London.

Within Amlin London our former Non-marine division is now two business units: Reinsurance and Property & Casualty. This structure reflects the markets we serve and enables greater efficiencies to be realised within Amlin London’s operations.

Underwriting leadership in each area is strong with Simon Beale, the former Head of Amlin Marine, taking responsibility for Amlin London, Brian Carpenter’s continuity within Amlin UK, formerly Amlin Insurance Services, Rob Wyatt having transferred from London to Amlin Bermuda and FranÁois Martinache leading Anglo French Underwriters. Kevin Allchorne and Duncan Dale have stepped up to lead respectively Reinsurance and Property & Casualty within Amlin London. For biographical details on all these executives, please click here.

Their continuity and depth of experience, as well as a sound succession planning process, has made this transition smooth and I am pleased with the way in which those who have taken on new roles have responded to their increased responsibilities.

  • Robust 2008 results despite being adversely affected by unprecedented financial markets and above average natural catastrophe losses.
  • Reorganisation of Group structure to facilitate growth by acquisition as well as succession planning.
  • Expansion of distribution into continental Europe with acquisition of Anglo French Underwriters.
  • Positioning of Amlin UK for further growth.
  • Preparing for Solvency II EU insurance regulation.