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Lloyd’s insurer announces restructuring plans

Lloyd’s insurer announces restructuring plans

Lloyd’s insurer announces restructuring plans Specialist insurance firm ERS is implementing several organisational changes to further drive business growth.
 
The Lloyd’s insurer, which operates in Swansea and London, said the changes will help the company attain its mid-term target of a 90% combined ratio.
 
Following a review of the company, the ERS executive team has proposed to merge the large loss and complex personal injury teams in London into a single unit that will manage claims of more than £50,000. Claims below this amount will be handled in Swansea.
 
The company will also relocate its counter-fraud activities across both underwriting and claims to Swansea. The majority of the firm’s IT capability will also be migrated to the coastal city while a small team will remain in London to deliver localised support.
 
As part of the proposed changes, ERS will establish a new project management team with roles in both London and Swansea.
 
The motor insurer said the planned organisational changes will see 38 London employees move to Swansea.
 
“I am confident that these changes will create the right balance for ERS in terms of roles based in Swansea and London,” said CEO Ian Parker.
 
Parker said the changes “will help ensure that we deliver profitable, sustainable growth that will benefit our brokers and their customers and our shareholders and employees.”


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