Broker UIB eyes expansion in specialty lines market
International re/insurance broker UIB has revamped its specialty lines division, in a move designed to expand and encapsulate multi-line and multi-territory classes of business which fit better in the current complex market environment.
Following the restructure, UIB's specialty lines division consists of four business units - crisis management; corporate & capital risks practice; direct & facultative property; and international liability.
The practice, which is led by James Wilson, is redesigned to offer a full spectrum of insurance solutions to help navigate the complex environment of today’s business world.
UIB has also recently recruited two new experts within the corporate and capital risks team. Nikhil Shah has joined as an associate director in transactional risks, and Emeka Cole as a senior broker in cyber, media & tech risks within the new practice.
James Wilson, head of corporate & capital risks said: “ UIB, by unifying one team of professionals working across a variety of specialist lines, can provide a complete and unique intermediary service for our clients. Typically, these very different classes of insurance are split over several divisions in the insurance broking profession. However, by working as one specialist unit, we can identify risk and structure a range of insurance policies tailored to each client’s specific and various risk management requirements.”
Chris Townley and Julian Ball, co-heads of UIB's specialty lines division, said: “Restructuring the division is an exciting opportunity for us to create a centre of excellence for UIB’s global portfolio. Unlike traditional mono-line specialty teams, we have expanded our specialist expertise to encapsulate multi-line and multi-territory classes of business which fit our clients’ ever-changing needs and risk appetite. New ideas have also allowed us to attract new talent and we are delighted we can service and strengthen our global offering.”
Shaun Barrington (pictured), UIB CEO, added: “We are delighted that the formation of this division will help promote UIB as the broker of choice within the Specialty Lines market. UIB’s development of high-quality products is now coupled with the exceptional quality of its people, and our clients will quickly see the benefits of this investment.”
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