AM BEST AFFIRMS RATINGS OF MS AMLIN AND SYNDICATE 2001

AM Best has affirmed the ‘A’ financial strength ratings of of MS Amlin AG and Lloyd’s syndicate 2001, despite losses in 2020. The outlook is stable. The ratings of MS Amlin AG reflect its balance sheet strength and support of its ultimate parent, MS&AD Insurance, while the ratings of syndicate 2001 reflect the balance sheet strength of the Lloyd’s market. MS Amlin and syndicate 2001 reported underwriting losses in 2020 with combined ratios of 106.7% and 118.8%, respectively, according to AM Best calculations. Loss ratios were impacted adversely by Covid-19 losses and natural catastrophe events, although technical performance improved with strategic portfolio remediation, which saw the syndicate exit a number of lines of business in 2020.