After commencing underwriting political risk in the Middle East in 2025, MS Amlin, the Lloyd’s specialty insurer and reinsurer, is targeting more growth in the region via a new reinsurance partnership with its parent company, Mitsui Sumitomo Insurance Co. (MSI), Ltd.
The new partnership targets clients in the United Arab Emirates (UAE), and brings together MSI’s portfolio with MS Amlin’s expertise.
Through MS Amlin’s Dubai branch, the agreement provides contract frustration protection for MSI’s client banking portfolio, utilising the experience and knowledge of specialist underwriters at MS Amlin. The Lloyd’s reinsurer has more than 20 years of experience writing the class of business and has held a presence in the region for over 10 years.
The new arrangement sees MSI focus on supporting its existing client portfolio as well as targeting new clients in the region via its UAE branch, with all risks written by MSI to be ceded to MS Amlin. The reinsurer explains that this partnership is part of its growth plans for the Middle East, where it currently writes a broad portfolio of Marine, Casualty, and Crisis Management classes.
MS Amlin launched its Credit and Political Risk offering in Dubai early last year with the appointment of Osama Elshiekh.
“We’re seeing continued expansion across all our product lines in the region and this is the latest sign of a very buoyant local economy, with rising demand in the region for this type of protection, particularly from lenders and credit providers. There are many world-renowned lenders in the Middle East who are supporting both domestic and international development and economic growth, but to fund that growth they need to have the right support in place to protect their own balance sheets. MS Amlin is an acknowledged leader in writing these sorts of risks and with the support of our colleagues in London we have a very large and highly experienced team of underwriting specialists that can bring a global sense of perspective, allied with local insight to support MSI’s existing and new clients,” said Vipul Gupta, Senior Executive Officer, MS Amlin (MENA).
“This new partnership is an example of synergy in action, and I’m delighted we have been able to support MSI, and our colleagues in their UAE branch. Being part of a wider company network of like-minded individuals plays well to MS Amlin’s wider Partnerships strategy, targeting opportunities that leverage the skills and capabilities inherent in the MSI network that allow us to support clients and grow our portfolio with lower frictional costs,” added Gupta.
The new partnership also supports MSI’s plans for growth and development in its international businesses, and the company’s General Manager, UAE branch, Yoshinori Nakamura, commented: “Through close collaboration with MS Amlin, we aim to strengthen services for a broad range of clients, including leading Japanese companies, and demonstrate the Group’s integrated strength. This partnership between two MSI companies is a perfect illustration of the power of collaboration, the innate value of the MSI Group of companies and the help we can deliver to existing and prospective clients in the region.”
