RSA sees strong growth opportunity in five industry practices to be launched this year

RSA Insurance Group is launching five industry practices within its UK & International (UK&I) global risk solutions business to drive "strong profitable growth" in the areas it sees tremendous opportunity.

The practices include rail, chemical, food and beverage, real estate and renewables. They cover areas where RSA already has expertise and a broad risk appetite.

The practices will be led by field experts who will work in conjunction with P&L leaders. They will be in charge of proposition development and marketing, managing key customer and associated broker relationships, and overall profitability and growth of the practice.

Steve Medhurst will become global rail industry practice leader; Peter Sweet will lead real estate; Colin McPhie will lead renewables; and Mike Smith will head up the chemical practice.

Additionally, the company has hired Alan Midson as food and beverage practice leader from JLT, where he was a partner focusing on food and agriculture since 2013.

RSA said rail will be the focus of an initial engagement programme with brokers, customers and the wider industry, which will be followed by the other practices throughout 2019.

Earlier in Nov. 2018, the company exited three lines of business in the London market in order to reinforce its focus on core portfolios, allowing it to concentrate on areas of existing strength and establish a platform for profitable growth in the future.

Neil Strickland, customer experience director of RSA's global risk solutions said: “RSA’s Global Risk Solutions is focused on industries where we see the opportunity for strong profitable growth, and today’s launch of focused industry practices showcases the areas in which we feel confident we can grow, and continue to win business through our deep expertise in across underwriting, risk consulting and claims.

"We are already market leading in several of the practices launched today – including Rail and Renewables – and are targeting a leadership position in those practices where our proposition is still developing.”