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Zurich’s Property Investors Unit to become Real Estate Insurance

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From mid January 2010, Zurich’s Property Investors Unit (PIU) is changing its name to Real Estate Insurance (REI).

Kevin Simmons, Zurich’s Head of Real Estate Insurance said: “The team’s current name has become a rather narrow definition of our full target market, which of course encompasses Property Owners and Investors, but also includes Managing Agents, Property Developers, Architects, Surveyors, Risk Managers and others. Outside of the UK Zurich already uses the Real Estate ‘brand’ to describe this broad sector, so we will now be better aligned with our European and Global colleagues. As part of Zurich’s Western Europe strategy for Real Estate business, dedicated teams are being created across Europe; our UK Real Estate Insurance team has been designated a ‘Centre of Excellence’ and will have an increasingly important role to play in supporting this development”.

Kevin continues “Alongside our name change we are also reorganising the London market team and our overall management structure.  In London we will be handling less complex and ‘small ticket’ work more effectively and efficiently through the creation of a new Market Underwriting and Servicing Team, and simultaneously freeing up our London Market Development Underwriters’ time to focus on growing our important London portfolio.

I have also appointed Alan Thorpe, currently Manager for Regions, to a new Real Estate Trading Manager role operating across the entire UK business, which will further enhance and sharpen our business development and trading approach and effectiveness.”