Lloyd’s market re/insurer announces new business class for MENA region amid growth in M&A and IPO activity.
MS Amlin has launched financial lines cover in the Middle East, in response to an increase in mergers and acquisitions and initial public offering activity in the region.
Tom Horswill, MS Amlin’s senior financial lines underwriter, will lead the new offering.
He will relocate from the insurer’s London office to Dubai, the company said.
Horswill has more than 18 years’ experience in financial lines and will report to Vipul Gupta, senior executive officer, and lead underwriter.
“We’re excited to launch this new line of business, further deepening our commitment to the MENA region,” Gupta said.
The firm’s expansion includes directors’ and officers’ liability, commercial crime and bankers blanket bond, financial institutions professional indemnity and public offering of securities insurance, MS Amlin said.
The firm said it builds on its existing presence in Dubai, where it already underwrites hull, political violence, cargo and credit and political risk insurance.
Gupta continued: “The Middle East’s financial landscape is rapidly evolving.
”With increasing M&A and IPO activity, and tighter regulatory requirements, businesses need specialised insurance solutions to navigate the complexities they face.
“With his extensive financial lines experience and technical expertise, Tom is ideally placed to lead the development of this book, and support clients operating in the region’s dynamic market,” he added.