Chartis’ European restructure opts for London HQ
Chartis has announced that the headquarters for its European Economic Area and Swiss operations will be based in London.
The group is undertaking a restructure that will bring its European operations together under one regional management team, in a move that affects the following European domiciled insurance companies: Chartis Insurance UK Limited, Chartis Insurance Ireland Limited and Chartis Europe SA.
As part of the reorganisation, Lex Baugh has been named chief executive officer Chartis Europe SA, replacing Julio Portalatin who is moving on to become president and chief executive of the emerging markets division of Chartis International.
Commenting on the changes Mr Baugh says: “As we have already stated, the main reasons for structuring our European business in this way are to facilitate a pan-European solution for the preparation of Solvency II; to better support and empower local underwriters and to benefit from a more efficient structure.”
He adds: “It will also help to position us for the proposed creation of a single UK domiciled pan-European insurer.”
However, where brokers and clients are concerned there will be no change to the way in which Chartis operates in each country.
The restructure involves an extensive management reshuffle which includes James Shea, previously regional president for Chartis CECIS, becoming managing director of Chartis UK.
Category: Companies News, Employment News, Insurance News
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