Composite insurance giant Royal & SunAlliance is set to switch its commercial insurance headquarters to London just three years after setting up camp in Manchester, it emerged this week.
RSA was unable to confirm how many people will move, whether there will be redundancies or whether any other divisions will also relocate to the capital.
A spokeswoman for the insurer said: “We are discussing a range of relocation options with underwriting staff. No decisions will be made until the consultation is complete. We expect this to be resolved by the end of the year at the latest.”
The move will take place over the coming months – the new division led by commercial underwriting manager Colin Short.
Said short: “This team will help RSA lead the commercial insurance market in the UK over the coming years.
“More than anything, this investment in a new head office underwriting team confirms our commitment to commercial insurance of all types and sizes.”
Under Short's management, RSA is to develop dedicated underwriting teams that will target specific product lines.
One such new product is profit protection against business interruption. The division is also researching new products to protect profits against electronic risks.
Further specialist units will include fleet insurances and employee-related covers, ranging from employers' liability to accident and sickness insurance.
