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OPERATING AND FINANCIAL REVIEW / THE COMPANY / DELIVERING VALUE /
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Amlin’s aim to be the “global reference point
for quality” extends to the client service we offer
our brokers and through them, our insureds.
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In early 2004 we participated, together with 13
other managing agencies, in a London market
survey of some 400 placing brokers. Our primary
aim was to review our client proposition against
the selection criteria which brokers deemed most
important. Secondly, this was an opportunity to
check broker perceptions of the Amlin brand
which, having been launched in 1998, is a
relatively new brand in the London market.
The results were encouraging. Brokers perceive
Amlin as the market leader in terms of
financial strength which after price, was their
most important selection criterion. We were
ranked first in terms of usage, with 33% of
brokers having used Amlin over the previous
12 months. We were second overall for
brand awareness, which was a one place
improvement on 2002.
While our service performance is generally
above the market average, the survey indicated
some areas where we will be seeking to ensure
that brokers better understand the progress
we have made and to improve further in 2005.
Amlin is committed to helping our brokers
provide excellent service to insureds and we
are continuing to invest significant resource
to achieve this, particularly in relation to
infrastructure and process improvements.
Performance vs Market Average 2004
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| MARKET LEADERSHIP |
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Most of the business we underwrite in our
Aviation, Marine and Non-marine divisions
is co-underwritten with other insurers on a
subscription basis, whereas in our UK
Commercial division we mostly operate as a
sole insurer. Our investment in expertise and
infrastructure gives us the ability to act as a
strong lead underwriter, which means setting
the price and conditions for the risks insured.
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| BROKERS |
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One important client relationship is with
the specialist Lloyd’s brokers who visit our
underwriters daily, either at the Box or in our
offices nearby. We regularly deal with some
150 Lloyd’s brokers to provide insurance and
reinsurance to their global client bases.
Approximately 44% of our business in 2004
however, came through only 3 brokers. We
maintain strong and stable relationships with
the major brokers year on year as shown below.
Outside the London market, we provide a
variety of insurance to regional brokers and
intermediaries in the United Kingdom and
the Republic of Ireland via our service
companies. Insurance protection offered
includes commercial motor, liability and
professional indemnity, property and financial
institutions, trade credit, high value equine,
cargo and transit, yacht and pleasure craft.
Additionally, some of our Lloyd’s brokers
source business for Amlin through regional
brokers around the world or through managing
general agencies who underwrite risks within
strictly set parameters on our behalf.
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| INSUREDS |
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Amlin has developed close relationships with
many insureds (see Air Malta case study),
sometimes over several decades. Additionally
we provide proportional and non-proportional
reinsurance protection to insurers worldwide.
Our global client base includes AIG, General
Electric, General Motors, Diageo, British
Airways, Corus, Mitsubishi Corporation, Toyota
and Nissan and many other large and small
companies. Our broad client base means we
are neither exposed nor beholden to any single
client, industry sector, country or economy.
Click an icon below to read an Amlin case study
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