MS Amlin and MSI launch UAE reinsurance partnership for political risk and contract frustration cover

MS Amlin has launched a new reinsurance partnership with parent Mitsui Sumitomo Insurance for political risk clients in the United Arab Emirates, combining MSI’s client portfolio with MS Amlin’s underwriting capabilities.

The arrangement will be delivered through MS Amlin’s Dubai branch and will provide contract frustration protection for MSI’s banking client portfolio.

MS Amlin said the structure leverages more than two decades of underwriting experience in the class and builds on more than ten years of regional presence.

Under the partnership, MSI’s UAE branch will continue to support its existing client base while targeting new business across the region.

All risks written by MSI will be ceded to MS Amlin, the insurer said.

MS Amlin began writing political risk business in the region in 2025 following the appointment of political risk underwriter Osama Elshiekh.

The insurer said the account has grown steadily since his appointment.

The partnership forms part of MS Amlin’s broader Middle East growth strategy, where it already writes marine, casualty and crisis management business.

The arrangement also supports MSI’s wider plans to expand its international business footprint.

Vipul Gupta, senior executive officer MENA at MS Amlin, said regional demand for balance sheet protection is increasing.

“We’re seeing continued expansion across all our product lines in the region and this is the latest sign of a very buoyant local economy, with rising demand in the region for this type of protection, particularly from lenders and credit providers,” Gupta said.

“There are many world-renowned lenders in the Middle East who are supporting both domestic and international development and economic growth, but to fund that growth they need to have the right support in place to protect their own balance sheets,” he added.

“MS Amlin is an acknowledged leader in writing these sorts of risks and with the support of our colleagues in London we have a very large and highly experienced team of underwriting specialists that can bring a global sense of perspective, allied with local insight to support MSI’s existing and new clients,” Gupta said.

“This new partnership is an example of synergy in action, and I’m delighted we have been able to support MSI, and our colleagues in their UAE branch,” he added.

“Being part of a wider company network of like-minded individuals plays well to MS Amlin’s wider partnerships strategy, targeting opportunities that leverage the skills and capabilities inherent in the MSI network that allow us to support clients and grow our portfolio with lower frictional costs,” Gupta said.

Yoshinori Nakamura, general manager of MSI’s UAE branch, said the partnership strengthens client service capabilities across the region.

“Through close collaboration with MS Amlin, we aim to strengthen services for a broad range of clients, including leading Japanese companies, and demonstrate the Group’s integrated strength,” Nakamura said.

“This partnership between two MSI companies is a perfect illustration of the power of collaboration, the innate value of the MSI Group of companies and the help we can deliver to existing and prospective clients in the region,” he added.