or
[VBA]
Sub M_snb()
With Sheets("Master")
sn=.columns(2).specialcells(2)
sp=.columns(37).specialcells(2)
End With

c00=join(application.transpose(Sheets("Policy List").columns(1).specialcells(2)),"|")

for j=2 to ubound(sp)
replace("|"& c00 & "|","|" & sp(j) & "|","|" & sp(j) & "_" & sn(j) &"|")
next

Sheets("Policy List").columns(1).specialcells(2)=application.transpose(split(c00,"|"))
Sheets("Policy List").columns(1).texttocolumns ,,,,,,,false,false,false,false,True,"_"
End Sub
[/VBA]