RSA UK & International has merged its Commercial Risk Solutions (CRS) and Global Risk Solutions (GRS) businesses to create a single business unit focused on commercial lines.
This move follows another restructuring in 2016 when the two divisions — CRS and GRS — were originally created.
Rob Gibbs, currently managing director of CRS, takes up the role of managing director, RSA Commercial Lines, with immediate effect. Gibbs’ appointment is subject to regulatory approval.
Tony Buckle, currently MD of GRS, will leave RSA after a handover period. He was hired from Swiss Re in January 2018.
RSA’s UK & International commercial division currently operates as two separate businesses – CRS focuses on UK domestic risks and delegated market authorities and GRS handles multinational corporate clients, specialty business written via the London market and RSA’s European branches.
The merger creates a unified division with oversight of all commercial risks written through the broker market or delegated authorities, simplifying processes for customers and brokers and reducing duplication, said RSA in a statement.
“We’ve made a number of changes to our UK business over the past 12 months,” said Scott Egan, chief executive of RSA UK and International.
“The creation of single commercial lines business reflects our intent to be a more customer focused, simpler organization,” added Egan.
RSA originally restructured its commercial lines operation in November 2016 when it created the two divisions CRS and GRS. At the time, RSA had said the new structure will enable it to better serve customers and compete more effectively within its chosen markets, “providing our customers and brokers with improved access to decision-makers across our business.”
In February 2017, it restructured GRS by dividing it into three units: Europe, Specialty & Wholesale and UK and Multinational.
Commenting on the latest restructuring announcement, Egan said: “Rob is an experienced leader with a fantastic track record of delivery and a deep understanding of the commercial insurance market. I’m delighted he will be taking on this role. Sincere thanks are due to Tony for the hard work he has put into both serving our customers and brokers and reshaping the GRS business since he joined us in 2018.”
RSA said the merger of the commercial division comes after company significantly reduced its London Market and specialty risk portfolios.
Source: RSA
*This story ran previously in our sister publication Insurance Journal.