Chartis Reorganizes European Management Structure

NU Online News Service, July 6, 3:25 p.m. EDT

Chartis announced it will bring all of its European operations together under one regional management team headquartered in London in preparation for Solvency II.

The new structure involves the European-domiciled companies Chartis Insurance UK Limited, Chartis Insurance Ireland Limited and Chartis Europe SA.

Under the new structures, country operations will report to one of three managing directors, depending on geographical location, and the managing directors will report to Lex Baugh, who has also been named CEO of Chartis Europe SA.

Mr. Baugh said, "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."

James Shea, previously regional president for Chartis CECIS, is now managing director of Chartis UK and will be responsible for operations within the United Kingdom.

Ralph Brand, previously chief operating officer of Chartis Europe SA, is managing director of Chartis Northern Europe and will be responsible for operations in Austria, Czech Republic, Denmark, Finland, Germany, Hungary, Ireland, the Netherlands, Norway, Poland, Slovakia, Sweden and Switzerland.

Nicolas Aubert, previously managing director of France, is managing director of Chartis Southern Europe and will be responsible for operations in Belgium, Bulgaria, Cyprus, France, Greece, Italy, Luxembourg, Malta, Portugal, Romania and Spain.

Mr. Baugh said brokers and clients should expect no changes in how Chartis operates in each company. "The same teams will continue to deliver their expert underwriting and claims handling as they do now," he said.

Solvency II, scheduled to go into effect at the end of 2012, is an updated set of regulatory mandates for insurers that operate in the European Union. It involves an overhaul of capital requirements, risk management standards, and disclosure and transparency requirements.