MS Amlin has expanded its service offerings in the Middle East by introducing financial lines cover to align with the rising trend of mergers and acquisitions (M&A) and initial public offerings (IPOs) in the region.
Tom Horswill, a seasoned professional with over 18 years of experience in financial lines, has been appointed to spearhead this new initiative. He will transition from the company's London base to Dubai, reporting directly to Vipul Gupta, the senior executive officer and lead underwriter at MS Amlin.
The new financial lines cover will provide businesses access to several insurance options including director and officers insurance, commercial crime and bankers blanket bond, financial institutions professional indemnity, and public offering of securities insurance. This addition builds upon MS Amlin's existing portfolio in Dubai, which already includes underwriting for hull, political violence, cargo, and credit and political risk insurance.
“We’re excited to launch this new line of business, further deepening our commitment to the MENA region. The Middle East’s financial landscape is rapidly evolving. With increasing M&A and IPO activity, and tighter regulatory requirements, businesses need specialised insurance solutions to navigate the complexities they face. With his extensive financial lines experience and technical expertise, Tom is ideally placed to lead the development of this book, and support clients operating in the region’s dynamic market,” Gupta said.
A recent report from Clearwater Analytics has revealed a strong expectation of increased M&A activity in Singapore and Hong Kong for 2024, reflecting the global trend towards consolidation in the insurance industry.
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