LONDON (Reuters) – British insurer RSA, which has been looking at ways to improve profitability in its commercial insurance business, has set up five new departments within one of its commercial divisions, it said on Wednesday.
The groupings – rail, chemical, food and beverage, real estate and renewables – cover “the areas in which we feel confident we can grow, and continue to win business,” Neil Strickland, RSA’s customer experience director, global risk solutions, said in a statement.
The global risk solutions division provides commercial insurance for large and multinational clients in Britain, Europe and the Middle East. A second commercial insurance division focuses on smaller British businesses.
RSA, which offers home and motor insurance as well as commercial, has suffered alongside other commercial insurers from heavy losses from natural catastrophes and strong competition.
It warned last year about poor performance and pulled out of several lines, including international freight and construction.
The reorganisation of the global risk solutions division will not involve job losses or the exit from any business lines, an RSA spokeswoman said.
RSA publishes details of its first-quarter premiums on Thursday.
(Reporting by Carolyn Cohn; Editing by Mark Potter)