British insurer RSA has established five new industry departments within its Global Risk Solutions business to boost profitability of its commercial insurance business.
The newly created practices include rail, chemical, food and beverage, real estate and renewables and cover areas where RSA already has proven expertise.
The British insurer’s global risk solutions division offers commercial insurance for large and multinational clients in UK, Europe and the Middle East.
A second commercial insurance division serves smaller businesses in the country.
Steve Medhurst has been named Global Rail Industry Practice Leader, Peter Sweet has been promoted as Real Estate leader, Colin McPhie will lead Renewables while Mike Smith has been given the charge of the Chemical practice.
The practice heads will be responsible for proposition development and marketing, managing important customer and associated broker relationships, and for overall profitability and growth of the practice, the insurer said.
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Furthermore, Alan Midson, who joined RSA recently, has been appointed as Food and Beverage Practice Leader.
RSA Global Risk Solutions customer experience director Neil Strickland said: “RSA’s Global Risk Solutions is focused on industries where we see the opportunity for strong profitable growth, and today’s launch of focussed industry practices showcases the areas in which we feel confident we can grow, and continue to win business through our deep expertise in across underwriting, risk consulting and claims.
“We are already market leading in several of the practices launched today – including Rail and Renewables – and are targeting a leadership position in those practices where our proposition is still developing.”