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MS Amlin revamps structure, leadership

MS Amlin revamps structure, leadership

Simon Beale will step down as CEO of MS Amlin PLC on Dec. 31, 2019, amid a reorganization of the insurer and reinsurer, the London-based company said in a statement Wednesday.

Mr. Beale will continue as an executive officer of MS Amlin’s Tokyo-based parent Mitsui Sumitomo Insurance Group Holdings Inc., the statement said.

In addition, James Illingworth will step down as chief underwriting officer but will continue his current MS Amlin nonexecutive directorships “in the near term,” the statement said.

Also, beginning Jan. 11, 2020, the insurer, which operates Lloyd’s of London syndicate 2001, will shed its regional holding company framework, with MS Amlin PLC ceasing to exist, the statement said. Instead, Mitsui Sumitomo Insurance will directly own the corporate entities MS Amlin Underwriting Ltd, a marine and aviation insurer, MS Amlin AG, a reinsurer, MS Amlin Insurance SE, a property/casualty insurer, and MS Amlin Business Services, which supports the underwriting units.

Tom Clementi, will continue as CEO of MS Amlin Underwriting Ltd and Chris Beazley will continue as CEO of MS Amlin AG. Rudy Benmeridja, will be interim CEO of MS Amlin Insurance SE and MS Amlin Chief Financial Officer Iain Pearce will be CEO of MS Amlin Business Services, the statement said.  

“The transition to a new international organizational structure will strengthen collaboration across all operating companies globally,” Masahiro Matsumoto, director, senior executive officer of Mitsui Sumitomo Insurance, said in the statement.

The reorganization follows MS Amlin’s recent announcement that it was withdrawing from several lines of business.