MS Amlin Insurance S.E. is aiming to further boost its strength
The shareholder Mitsui Sumitomo Insurance (MSI) aims to consolidate talent and strength of its European subsidiaries MS Amlin Insurance S.E. (MSAISE) and MSIG Insurance Europe AG (MSIGEU) in a merger of equals.
In Europe, significant growth of insurance requirements is expected, especially due to innovative technologies generating a fundamentally new level of novel risks which demand appropriate insurance services. This development will challenge the entire insurance business across Europe.
In light of these changing market dynamics and in light of a range of opportunities, the MSI Group’s two European subsidiaries, MSAISE and MSIGEU, are aiming for a strategic merger of equals. This is with the support of their common shareholder MSI. A combined MSI service offering across Europe will empower policyholders in being able to navigate the greater complexity and quantity of risk coverage needs with an even more sophisticated long-term partner across more markets.
MSAISE, one of the three pillars composing MS AMLIN, is headquartered in Brussels, Belgium and operates in Belgium, France, The Netherlands and UK. With its headquarters in Cologne, Germany, MSIGEU is focused on the markets in Germany, Belgium, France, Italy, The Netherlands, Slovakia, and Spain. Both companies are wholly owned by the Japanese MSI Group, one of the world-leading insurers with more than 130 years of experience. The subsidiaries’ business fields, comprising property, motor, liability, engineering and marine, supplemented by risk engineering and claims services, are largely complementary with mostly different market coverage and little overlap, as respects the entirety of Europe.
The two firms are distinguished by their long-lasting track records and furthermore, are recognised as authorities providing individually tailored risk solutions. This is clearly driven by wide-ranging knowledge, extensive experiences cultivated from different markets and consistent will to comply properly with the requests from their business partners.
From this position of strength, the companies aim to consolidate talent and strength in Europe by combining MSAISE and MSIGEU in such a merger of equals.
With such a merger, the two subsidiaries would be able to leverage their existing capabilities. By learning from each other while respecting the different origins of the companies, they would be able to strengthen their cross-selling potential, IT systems and diverse portfolio to serve clients even better with bespoke products and in favour of stronger growth.
In view of the upcoming market shifts, this merger project would be instrumental in continuing to fulfil the expectation of current business partners and offering innovative solutions to a new customer base. Given the similar standards within the same group and, also, considering the geographical proximity and thus, comparable cultures, a merger of these two subsidiaries would be the right thing to do for the future of the firms’ European operations. Restrictions for third parties are not expected.
For both companies, it is the appropriate time to prepare the future by maximizing the forces of both entities to become an even stronger multi-specialist insurer as a platform provider offering attractive, innovative risk solutions across Europe. With this focus of the new company, which will be also a global MSIG member, MSI aims to build another strong brand equity that will be comparable to the powerful brands in the US and Asia.
Such a merger would enable a wide range of benefits, from greater customer and employee satisfaction to stronger opportunities for sustainable profitable growth, which ultimately would benefit all stakeholders again.
This intragroup merger project is still subject to consultations and decisions at local level, including the approval by the regulatory authorities which is aimed for mid of next year. The company will provide information on this in due course.