$2.2bn MS Amlin AG rebrands to MS Reinsurance
MS Amlin AG has rebranded to MS Reinsurance as it looks to cement its identity as a pure-play reinsurer.
The rebrand of the reinsurance arm of MS Amlin will see the business continue to operate alongside the MS&AD-owned carrier’s two other legal entities: Lloyd’s (re)insurer MS Amlin Underwriting Limited and MS Amlin Insurance SE.
Zurich-domiciled MS Reinsurance – which in 2021 wrote $2.2bn in GWP – will continue to use the MS Amlin AG balance sheet as the risk-carrying entity, as will its Bermuda branch.
Unveiling the company’s new name at the Rendez-Vous in Monte Carlo today, CEO Robert Wiest said that coming under the MS Reinsurance banner was just one step in the wider transformation programme the carrier is in the midst of undertaking.
Wiest said the rebrand marked a key milestone in its journey and would better communicate its offering to the market as a pure-play reinsurer.
“The need for rebranding is just one signal of our transformation,” Wiest said.
“It’s an important signal internally, to our own employees, but also a signal to our clients – to all of you,” Wiest told the guests present at the event in Monte Carlo.
The former Swiss Re reinsurance COO – who joined the MS&AD reinsurance arm in January – said the transformation programme did not involve dramatically changing its risk appetite or an overhaul of personnel.
“So you might come to the conclusion that it’s just a name and everything else remains the same,” he said.
“I can assure you that is very, very wrong,” Wiest continued.
“At this point in time, under the hood, we are changing the entire company upside down.”
Wiest said that as MS Reinsurance the carrier was positioning itself as “a trusted long-term partner to our clients” as well as creating a new banner under which it could attract new talent.
In an interview with The Insurer TV on the sidelines of the Rendez-Vous, Wiest further expanded on the rationale behind the rebrand and how its new name would allow the firm to better position itself to clients.
“The name tells the clients and the market who we are and what we are doing – we are a pure-breed reinsurer,” he said.
“So, there’s no confusion when you look at the name,” Wiest added.
He said that the presence of parent company Mitsui Sumitomo – which acquired Amlin in 2016 – in its name demonstrated the strength of capital behind the firm.
MS Reinsurance’s Bermuda office writes as a branch office of the Zurich reinsurer on MS Amlin AG paper. It also has underwriting offices in Miami and New York.
Look out for the full interview on The Insurer TV tomorrow where Wiest discusses his priorities since joining the firm, MS&AD’s recent $400mn+ acquisition of Transverse and what it means for MS Reinsurance, as well as sharing his thoughts on the upcoming 1.1 renewals.