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MS Amlin withdraws from Lloyd's cyber market – Insurance Insider

MS Amlin Ltd. has exited from Lloyd's of London's cyber market as the existing book struggled with profitability, Insurance Insider reported.

The decision will see the book put into runoff.

An MS Amlin spokesperson reportedly confirmed the move to exit the cyber market and added that the company's reinsurance operations, MS Amlin AG, will continue underwriting cyber reinsurance. It will also retain its investment in Envelop Risk Analytics Ltd., while MS Amlin Insurance SE will continue to provide cyber cover for its European and U.K.-based e-trade clients.