S&P gives A to Amlin Insurance (UK)

Standard & Poor's said it assigned its A long-term counterparty credit and insurer financial strength ratings to Amlin Insurance (UK) plc (which will be renamed Amlin Insurance SE in January 2016).

At the same time, the agency discontinued the ratings on Amlin Europe NV as it will cease to exist in January.

The outlook is stable.

S&P said the ratings reflect Amlin UK's core status to the Amlin group. Amlin UK is a subsidiary of Amlin plc that currently writes a very small amount of business and will assume all of the business and functions previously performed by Amlin Europe and most of the U.K. business currently written by Amlin Syndicate 2001.

Furthermore, Amlin Europe's assets and liabilities will be transferred to Amlin UK through the merger process from January 2016 once all the regulatory approvals are in place.

At the same time, Amlin UK will be renamed Amlin Insurance SE.

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