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MS Amlin to exit 9 business lines

MS Amlin PLC is set to exit nine classes of business and operations after an underwriting review.

The business classes are aviation and P&C U.K. insurance, which includes corporate property, real estate, casualty, package binders and fleet. The operations are bloodstock in P&C international, U.K. yacht and AUA Insolvency Risk Services Ltd. These business lines will trade as normal.

"Whilst we have identified several classes of business that no longer fit within our long-term strategy, we believe there are other owners that are better positioned to take these great books of business forward," MS Amlin CEO Simon Beale said. "There will be no interruption to the service our brokers and clients receive in the meantime."

The move is part of MS Amlin's new underwriting strategy, which aims to advance the company's 2023 transformation plan and aid the delivery of ultimate parent MS&AD Insurance Group Holdings Inc.'s vision 2021 management plan.

MS Amlin decided to focus on three core markets following the review. The company will build on its core strength and track record in high-value reinsurance, create a specialty insurance business through the combination of its marine and P&C international platforms, and selectively operate domestic specialty markets in European commercial insurance.