’The new structure provides improved risk appetite alignment,’ says chief underwriting officer
MGA Thomas Miller Specialty (TMS Marine) has appointed Helge Volger as its new chief underwriting officer in a bid to increase “alignment and strategic clarity to the business”, a statement released today (28 July 2023) revealed.
The move will see Volger, who was most recently managing director and chief executive of TMS GmbH, take leadership of the TMS Marine underwriting teams in both London and Hamburg.
TMS Marine said it made the appointment following a “thorough review of the business” after deciding to move its protection and indemnity (P&I) capacity to the UK P&I Club.
This came after a three-year partnership with AIG for fixed premium P&I came to an end in January 2022.
”The strategy to align the management of TMS Marine to the UK P&I Club reflects the similarity of the two businesses’ product offering and common distribution channels,” the MGA said.
TMS Marine will report directly to UK P&I Club chief underwriting officer William Beveridge.
He said the change in management reporting and structure ”will benefit” both the UK P&I Club and TMS Marine.
“[It will provide] improved communication between our underwriting and claims teams and a more consistent offering to our brokers and key business partners,” he said.
”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.”