JCUA is a managing general agent which sources approximately £30 million of UK household and commercial insurance premium income.
Amlin UK would underwrite 100 per cent of JCUA's business going forward.
JCUA has been successfully sourcing business for London Market underwriters since 1999. However, it has recently lacked sufficient capital to continue to fund its operations and satisfy the FSA's solvency requirements.
Moreover, Amlin believes that its acquisition of JCUA would add attractive new business in an area where premium pricing is rising and would be in the interests of JCUA's employees, policyholders and creditors.