BRIT Insurance Holdings has formed Brit Underwriting which it claims will be the "generic brand name" for all underwriting activity across the group's Lloyd's and non-Lloyd's platforms.
It added that the changes should also result in "more effective use of capital across the group", an increased presence in its markets, more efficient portfolio management of classes of business, better utilisation of reinsurance and a reduction in costs.
CEO Neil Eckert said: "We are confident that our unified approach to managing our underwriting business will lead to cost savings and capital allocation efficiencies.
"We believe that these benefits will start to come
through in 2002 but with greater effect for 2003 as we continue to take advantage of the accelerating hard market."
In the reorganisation of the group's underwriting activities, Dane Douetil, a director of Brit and CEO of the group's non-Lloyd's underwriter Brit Insurance
Ltd, has been appointed head of group underwriting with responsibility for the group's Lloyd's and non-Lloyd's risk taking operations.
He also takes on the role of CEO of Brit Syndicates Ltd, the company said.
