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Chartis Is Reorganizing European Insurance Operations

Source: Business Insurance

Posted on 07 Jul 2010

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Chartis Inc. is reorganizing its European operations to bring Chartis Insurance U.K. Ltd., Chartis Insurance Ireland Ltd. and Chartis Europe S.A. under a single management team headquartered in London.

As part of the restructuring, Alexander Baugh, president and CEO of Chartis Europe Holdings Ltd., has been named to the additional position of CEO of Chartis Europe S.A. He succeeds Julio Portalatin, who earlier was named president and CEO of Chartis’ emerging markets division.

“The main reasons for structuring our European business in this way are to facilitate a pan-European solution for the preparation of Solvency II; to better support and empower local underwriters and to benefit from a more efficient structure,” Mr. Baugh said in a statement Tuesday.

“It will also help to position us for the proposed creation of a single U.K.-domiciled pan-European insurer,” Mr. Baugh said. “However I would emphasize that as far as our brokers and clients are concerned, there is no change to the way we operate in each country.”

Three managing directors, who report to Mr. Baugh, will be responsible for operations in the European countries covered by Chartis, the property/casualty unit of American International Group Inc.

James Shea is managing director of Chartis U.K. and will oversee U.K. operations. Previously, he was regional president for Chartis CECIS.

Ralph Brand is managing director responsible for operations in Austria, Czech Republic, Denmark, Finland, Germany, Hungary, Ireland, Netherlands, Norway, Poland, Slovakia, Sweden and Switzerland. Mr. Brand previously was chief operating officer of Chartis Europe S.A.

Nicolas Aubert, who previously was Chartis’ managing director for France, is managing director responsible for Belgium, Bulgaria, Cyprus, France, Greece, Italy, Luxembourg, Malta, Portugal, Romania and Spain.