Coffey exits Zurich in the wake of UK shake-up
Zurich's head of broker personal lines, Mark Coffey, has left the insurer one year since beginning the role, Insurance Times has learnt.
Coffey's departure, which was confirmed by a Zurich spokesman today, comes just six weeks after Zurich restructured its UK general insurance business.
"Mark leaves Zurich after 29 years of dedicated service with our very best wishes for the future. He has consistently been an excellent ambassador for Zurich in the market place and he will be missed," the spokesman told Insurance Times.
Coffey was appointed head of personal lines, broker division, in the UK GI business in January 2010. He was previously head of key accounts.
The personal lines business will now be headed by managing director Karl Bedlow (previously head of pricing and product development in Zurich’s European direct business).
The UK GI restructure created three new units - commercial broker, personal lines and Zurich Municipal.
In personal lines, Zurich has brought together its UK direct, personal lines broker, marine & boat and high net worth businesses.
Zurich's personal lines business has been hit by motor losses in the last year.
UK revenues suffered after its decision to push up motor rates by 20%, with premium income down £200m in the first nine months of 2010.
The decision to raise motor rates led to brokers reducing their accounts with Zurich, moving business to other insurers.
For more, read our online subscriber exclusive from November: Has Zurich lost its way?