The new practice will cater to the ‘complex environment’ that businesses must navigate, says the firm

International (re)insurance broker UIB has created a new corporate and capital risks practice to service what it called an “ever evolving risk landscape” for the corporate and investment sector.

The creation of the firm’s new practice follows a restructuring of its specialty lines division earlier in the month that saw it renamed from the non-marine division.

Following the restructure, UIB’s speciality lines division now consists of crisis management, direct and facultative property, international liability and the new corporate and capital risks practice.

The new practice will be led by James Wilson, the new head of corporate and capital risks at the broker.

The team at the corporate and capital risks practice will work within UIB’s restructured specialty lines division, which is led by Chris Townley and Julian Ball.

Two new appointees have also joined the team – Nikhil Shah has been brought in as associate director for transactional risks while Emeka Cole has joined as senior broker for cyber, media and tech risks.

According to UIB, the practice will provide a “full spectrum” of insurance products for clients to help them navigate the “complex environment” of business requirements.

Complete service

Wilson said: “UIB – by unifying one team of professionals working across a variety of specialist lines – can provide a complete and unique intermediary service for our clients.

“Typically, these very different classes of insurance are split over different divisions in the insurance broking profession – however, by working as one specialist unit, we can identify risk and structure a range of insurance policies tailored to each client’s specific and various risk management requirements.”

Shaun Barrington, chief executive of UIB, added: “We are delighted that the formation of this division will help promote UIB as the broker of choice within the specialty lines market.”