Tuesday May 6, 03:56 PM
Amlin launches insurance risk venture
LONDON (ShareCast) - Lloyds insurer Amlin (LSE: AML.L - news) plans to launch a new venture that will manage funds focused in traded
insurance risk.John Wells will become chairman and Luca Albertini will become chief executive of the new management company. Amlin will be an investor in the company's first fund, which is set to be launched later this year. "Amlin intends to be an active participant in the Insurance Linked Securities market, both to enhance our capital and risk management capabilities and to generate returns from the growth and high margins available in this business," said Charles Philipps, chief executive of Amlin. "The combination of Amlin's proven reinsurance expertise with John and Luca's wealth of relevant capital markets experience makes the new company a strong proposition in a developing market," he added.
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