Lloyd’s broker Howden has launched a specialist D&O and PI division for UK brokers.
The division, called Howden UK, has a target of £75m in premium by 2007, said the company.
Former Heath Lambert Professional Risks managing director Kevin Culliney has been recruited to run the new business.
Culliney joins Howden executive director Lance Rigby, with the aim of becoming the UK’s leading wholesale broker for business critical insurances.
Howden said the new company marked a return to the traditional value of service supported by investment in IT to provide efficient claims operations and, along with access to the Lloyd’s market.
Culliney said: “I am pleased to join a firm that has built an international business based on servicing sophisticated international brokers.
“It's an exciting moment to bring that specialism and experience to support brokers who have been subjected to increasingly poor service and non-competitive rates from UK wholesalers.
“Further rationalisation and consolidation amongst the broking community as rates and brokerage fall off in the softening market can only worsen the situation, and Howden UK has been launched to answer their needs.
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