Insurance and reinsurance underwriting group Amlin has confirmed that it has acquired Allied Cedar Insurance Group, the holding company of Allied Underwriting Agencies and Cedar Insurance Company.
Under the terms of the deal, the businesses will be integrated into Amlin Insurance Services, the UK commercial division of the Amlin group.
Brian Carpenter, Amlin board member and divisional underwriter of the UK commercial division, said: This acquisition increases our UK property account in line with our strategic plan and gives us an opportunity to develop additional SME business, as well as accessing new distribution channels.
For fiscal 2006, Allied Cedar reported gross assets of GBP5.2 million.