To expand its underwriting portfolio
Amlin has announced that a wholly owned subsidiary has entered into a heads of agreement to acquire Crowe Livestock Underwriting Limited (Crowe).
Amlin has intends to diversify its underwriting portfolio further into a suite of commercial insurance in order to balance its catastrophe book. The entry into the livestock insurance market illustrates Amlin’s focus on improving its distribution capabilities, while building long term profitability for the group.
Charles Philipps, chief executive of Amlin, said: “The acquisition of Crowe will be a tremendous opportunity for Amlin to build on its well regarded bloodstock book by entering the livestock class. Crowe is an acknowledged leader in its field, with a proven management team and the specialist underwriting knowledge to enable Amlin to develop this business in the future”.
Emma Stamper, managing director of Crowe, said: “This will be an exciting milestone for our company and we look forward to taking the business to the next stage of its development as part of Amlin. We believe that this partnership will give Crowe an ideal opportunity to further enhance its current product offering and geographical reach, providing a strong platform for future growth”.
Crowe is a cover-holder which provides specialist insurance to the livestock industry.