Mitsui Sumitomo and Amlin merge their reinsurance business

After several months of negotiations, the Japanese non life insurance company, Mitsui Sumitomo Insurance has completed the acquisition of the British insurer Amlin Plc renamed MS Amlin.

The transaction sum which was made public in September 2015 is around 4.9 billion USD. Following this acquisition, reinsurance portfolios of the two companies will be merged.

The operation will elevate Mitsui Simitomo to 15^th insurer in terms of premiums. In 2014, Amlin achieved a net premium volume of 2.27 billion GBP (3.53 billion USD) and a net profit of 236 million GBP (367 million USD).