UK P&I Club chief underwriting officer Christopher Brown is moving to a new role at club manager Thomas Miller’s European operation.
Brown joined Thomas Miller in 2001 and has been the lead figure in the UK Club underwriting team in recent years.
He will join the Netherlands-based company established by Thomas Miller following Brexit to manage its European operations.
The UK Club confirmed that Brown will relocate to its Rotterdam office as part of its strategic long-term planning.
“Subject to the usual regulatory checks, Christopher will be joining the leadership team of UKNV, the company through which the club writes all European risk, and which provides a fronting solution for several other Thomas Miller-managed clubs in Europe,” it added.
It is understood the UK Club has been looking for Brown’s replacement mainly in the London commercial insurance market rather than internally or from the current Thomas Miller management and underwriting team.
Potential candidates have been identified and an appointment is expected to be made shortly.
In common with the International Group of P&I Clubs, the UK Club has been running an underwriting deficit.
It had a combined ratio of 149% in the 2020 policy year — one of the poorest figures among protection and indemnity clubs.
However, it was buoyed by the 20 February policy renewal, at which it asked its shipowner membership for a 12.5% increase in premium to correct the underwriting losses.
It described the renewal as “outstanding”, having achieved its targeted increase.
It also announced in January that it is going into partnership with Thomas Miller Specialty in the marine fixed premium business, which will add an alternative income stream.
The UK Club’s capital will be used to back a series of fixed premium acquisitions made by Thomas Miller over recent years.
