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Amlin Corporate Insurance NV (formerly Fortis Corporate Insurance NV)

The acquisition of Fortis Corporate NV has now been completed by Amlin plc and effective from 26/08/09 the trading title of the company will be Amlin Corporate Insurance NV.

This announcement positions Amlin as a leading provider of Marine Insurance; it also diversifies Amlin’s portfolio in terms of geography, customer base, business lines and distribution, whilst introducing an experienced management team to lead further European growth. The acquisition will further enhance Amlin’s targeted expansion into the Marine, Property and Fleet Lines of business

Amlin’s security is quoted by A M Best at A+ (Excellent) and Standard & Poor’s A (Stable). In 2008 Amlin delivered a robust performance despite the economic crisis and the company made a profit before tax of £121.6 million.

Amlin brings to Fortis greater financial security and operational resources and will be a positive factor for the company’s clients.

Fortis will increase Amlin’s gross financial investments by approximately €1 billion giving the group significantly greater scale in its investment activities.

Comment on the acquisition by Charles Philipps, Chief Executive of Amlin:

“This acquisition represents a step-change in the development of our organisation and demonstrates the scope of our ambition to build a globally diversified insurance and reinsurance business focused in markets which require our specialist skills and have high barriers to entry. The balance we will achieve both between catastrophe and non-catastrophe exposures, and between insurance and reinsurance risks will add further stability to our book of business and a foundation from which to target further growth.”

As one of Reason Global’s panel of transit and storage insurers, this presents extremely positive and exciting news for the future of our relationship with Fortis. We anticipate that not only will it be ‘business as usual’ during and after the change of ownership and for the long term but this will also now produce tremendous new market relationship opportunities for us.

Further information can be found at www.amlin.com or call your usual contact at Reason Global.

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