British insurance giant Amlin yesterday completed the change in domicile of its Bermuda-based reinsurance unit to Switzerland.

But on announcing the news yesterday, Amlin made a point of stressing its ongoing commitment to the Bermuda market.

The move was first announced in early May and was completed following approval from the Bermuda Monetary Authority and Swiss regulator the Swiss Financial Market Authority.

Amlin Bermuda Ltd. will become a branch of the new Swiss company, which is called Amlin AG and has about $1.4 billion in capital.

In a statement yesterday, the Lloyd's insurer said: "Amlin remains committed to Bermuda as a key operating platform.

"Amlin AG's Bermuda-based branch will trade as Amlin Bermuda and will continue to serve its reinsurance clients and brokers in exactly the same manner as it does today.

"The high levels of service and security Amlin Bermuda's clients have come to expect will be unaffected by these changes."

In 2009, Amlin Bermuda, which writes mainly property and catastrophe reinsurance, wrote $628 million of business.

In May, Amlin Bermuda's managing director Stuart MacKellar told this newspaper: "The reason for redomiciling the Bermuda operation was a commercial decision to take over what we feel is a space in the continental European reinsurance market.

"We are very supportive of the Bermuda marketplace. We established the operation here in 2005 and we have continued to grow and develop it since, and we hope to continue to grow it."

Amlin Bermuda employs some 32 people in its offices in Par-la-Ville Road, Hamilton.

The completion of Amlin's move comes just days after class of 2001 re/insurer Allied World Assurance Company Ltd. announced its intention to move its corporate domicile from Bermuda to Switzerland.