Review
The business – Anglo French Underwriters
A platform for growth
The acquisition of AFU provided a rare opportunity to gain an immediate foothold in Continental Europe through a well regarded management team displaying the same focus on profitability as our other divisions. AFU’s noncatastrophe exposed business enables Amlin to balance the growth in its catastrophe book and also provides a critical mass onto which further European managing general agent acquisitions can be grafted.
On completion of the acquisition, Syndicate 2001 was able to increase its share of pre-existing AFU business and increase revenue further through access to all of AFU’s other business. This comes at a time when rates are starting to experience upward pressure.
AFU’s extensive distribution network provides further opportunity. As well as continuing to expand the distribution network beyond the 1,300 existing retail brokers, new AFU products are already being considered by offering Amlin’s experience in broader product lines to this market.
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