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MS Amlin P.L.C. on Thursday said Chief Underwriting Officer Simon Beale will become CEO on April 1, succeeding Charles Philipps, who is retiring.
Mr. Beale will become deputy CEO immediately, the London-based insurer said in a statement.
James Illingworth, currently MS Amlin’s chief risk officer, will succeed Mr. Beale as chief underwriting officer, and Martyn Rodden will become CRO.
Both Mr. Beale and Mr. Illingworth are longstanding members of MS Amlin’s senior executive team, according to the statement.
“We are pleased to have been able to fill these critical roles internally and are confident that, under Simon’s leadership, MS Amlin will maintain its significant status while developing strategically as part of the wider MS&AD Group,” Shonaid Jemmett-Page, MS Amlin’s chairman, said in the statement. “As CEO for nearly 19 years, Charles built MS Amlin from a Lloyd’s syndicate to an impressive international group. We wish him a well-earned and happy retirement.”
The recent sale of U.K.-based Amlin P.L.C. to Japan's MS&AD Insurance Group Holdings Inc. has made the remaining four publicly traded Lloyd's of London insurers possible takeover targets, reports Bloomberg.