Global insurance and reinsurance company MS Amlin has announced that it has increased its protection and indemnity (P&I) capacity for 2019.
The company explained that it would now offer ground up P&I capacity of up to US $500 million through its subsidiary MS Amlin Insurance SE, and up to $1 billion with support from Lloyd’s of London and other selected insurers.
It can also provide ground up capacity of up to $100 million through its Lloyd’s Syndicate 100.
MS Amlin currently provides specialist P&I insurance with a premium income of $60 million, focusing on two core products, namely shipowners P&I and charterers’ liability, including FDD and cargo owners’ legal liability.
The re/insurer also offers a range of additional P&I covers, including war risks, bunker, freight, and kidnap & ransom.
By increasing its capacity, MS Amlin claimed that it is now able to offer up to $1 billion for shipowners’ P&I and up to $500 million for charterers’ liability.
“As well as providing capacity for a wide range and size of risks, we are committed to delivering the best in technical P&I services from underwriting, claims, and advisory services, underpinned by the security and financial strength of MS&AD Insurance Group – a top ten global insurer,” the company said in a statement.
MS Amlin currently has P&I headquarters in Rotterdam and additional offices in London, Paris, Dubai and Singapore, with services delivered by more than 120 employees.
The re/insurer is a part of Mitsui Sumitomo Insurance, which itself belongs to the MS&AD group, the fourth largest global provider of Marine & Aviation insurance.