Fixed premium protection and indemnity insurer Thomas Miller Specialty Marine (TMS Marine) has announced a strategic restructuring aimed at strengthening its alignment with the UK P&I Club.
The restructuring includes the appointment of Helge Volger (pictured), managing director and chief executive of TMS GmbH, as chief underwriting officer. The decision comes on the heels of a comprehensive evaluation of the business that was undertaken after TMS Marine opted to transfer its P&I capacity to the UK P&I Club.
With the two organisations offering similar products and sharing common distribution channels, the alignment of TMS Marine’s management to UK P&I Club is expected to enable better coordination and strategic clarity, a TMS release stated.
In his new role, Volger will take charge of TMS Marine’s underwriting teams in both London and Hamburg, fostering greater synergy. Notably, TMS Marine will now report directly to William Beveridge, chief underwriting officer for the UK P&I Club.
“This change in management reporting and structure will benefit both the UK P&I Club and TMS, providing improved communication between our underwriting and claims teams, and a more consistent offering to our brokers and key business partners,” said Beveridge.
“In addition, the new structure provides improved risk appetite alignment and a simplified overall structure facilitating closer collaboration between the UK P&I Club and TMS Marine.”
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