Re/insurance broker UIB has announced the formation of its new practice, Corporate & Capital Risks, following a major restructuring of its Specialty Lines division.
James Wilson will lead the new practice, which UIB states will cater to all corporate and capital concerns, including executive, professional, and general liability; as well as more specialist solutions for transaction-related risks, real estate and environmental liabilities; and cyber, media and technology exposures.
The team will work within UIB’s Specialty Lines Division, recently renamed from ‘Non-Marine division’, which is led by Co-Heads Chris Townley and Julian Ball.
UIB notes that the decision to rename reflects the enhanced offering to its global client portfolio and will boost the promotion of the team’s diverse product suite.
Wilson commented, “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.”
UIB has also recently appointed 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.
Following the restructure, UIB Specialty Lines Division now consists of four business units. These are Crisis Management; Corporate & Capital Risks practice; Direct & Facultative Property; and International Liability.
Chris Townley and Julian Ball, UIB Co-Heads of 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, the 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.”
