Liberty Specialty Markets (LSM) has unveiled a new integrated third-party division for its UK and MENA operations, consolidating its financial and professional (FinPro) and casualty portfolios. The move is designed to bring underwriting divisions and products into closer alignment with evolving market trends and client needs.
Terry Fitzgerald has been appointed divisional director of the newly formed unit. Fitzgerald, who joined LSM in 2021 and brings 25 years of industry experience, will oversee both FinPro and casualty portfolios. Supporting him are Emma Pearce as head of FinPro, Daniel Munro as head of casualty, and Niamh Moloney, who continues in her role as general manager of insurance in Ireland. All three will report directly to Fitzgerald, ensuring consistency across regional client and broker relationships.
In parallel, Stuart Sutherland, previously head of liability lines, has been appointed director of UK retail alongside Dermot Walsh. In this new role, Sutherland will focus on developing commercial products within the UK retail sector, reporting to Henry Nelson, chief underwriting officer for the UK and MENA.
Reporting structures in the MENA region remain unchanged. Within marine and aviation, Chris Hicks has been promoted to head of marine, expanding his remit beyond marine cargo to include ports and terminals, marine hull, and war. Meanwhile, Miles Taffs will serve as interim head of aviation, with both reporting to Meghan Walker, divisional director for marine and aviation.
“These changes are designed to help us deliver our strategic objectives in a more streamlined manner,” said Luis Prato, president of LSM’s UK and MENA region. “By providing greater alignment with our brokers and clients, we can do business more effectively and increase our speed to market.”
Separately, LSM has also named James Cole as head of client and broker distribution for the UK and MENA region. In this role, Cole will focus on strengthening the company’s distribution strategy and aligning its global approach with regional opportunities.
The restructuring comes against the backdrop of divergent growth patterns in the two markets. While the MENA insurance sector is forecast to grow by around 6% in 2024, the UK market is expected to expand more modestly, at 1–2%.
