Lloyd’s global re/insurer MS Amlin has signed a new binder agreement with French MGA WeSpecialty to provide contract frustration and credit risk cover for the French export sector.
According to MS Amlin, the partnership will further enhance its distribution footprint while giving French insureds and brokers targeted access to its Lloyd’s-backed capacity.
Under the agreement, which is effective immediately, WeSpecialty will offer French insureds and brokers targeted access to MS Amlin’s capacity for pre- and post-shipment exposures.
The binder reportedly includes policy limits of €20 million for contract frustration and €15 million for credit risk.
Jamie Cleary, MS Amlin’s Head of Crisis Management, commented, “France has a highly active export sector that continues to face complex credit and political risks globally.
“WeSpecialty’s knowledge of the local market and disciplined underwriting approach make them a strong partner for our continued growth in this segment.
“This partnership reflects our selective approach to writing delegated authority business. By working with specialist MGAs with deep expertise, we can grow in key markets while giving brokers access to long-term capacity and a trusted claims service.”
Patrick de La Morinerie, WeSpecialty’s Chairman, added, “Partnering with MS Amlin gives us access to significantly increased capacity from a highly respected Lloyd’s insurer.
“MS Amlin’s underwriting expertise and disciplined approach align closely with our own. Combined with our decades-long presence in the French market, this partnership allows us to provide high-quality and consistent solutions to French firms facing increasingly uncertain global export conditions.”
ms-amlin-logo-2The stronger combined ratio was driven by a 2.3 percentage point reduction in the loss ratio to 50.1% and a 0.4 percentage point decrease in the expense ratio to 36%, compared with 52.4% and 36.4%, respectively, in Q3’24.
MS Amlin’s underwriting result remained strong despite being hit by the California wildfires in January 2025, as well as reserve strengthening for aviation leasing losses.
