Japanese insurer Mitsui Sumitomo Insurance (MSI), owner of Lloyd’s of London underwriter MS Amlin, is investing in the UK hub as it announces its plans to increase its underwriting capacity to £3 billion in the next five years.
According to a recent report by the Financial Times, Mitsui Sumitomo plans to reach this figure in stamp capacity – a measure of the business it underwrites – in Lloyd’s and the market that surrounds it.
Shinichiro Funabiki, chief executive of Mitsui Sumitomo Insurance, told the newspaper that London’s expertise in analysing complex global risks was the driver for the company to focus its investment plans on the UK.
