NMU in specialist line-led restructure

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Provider says reorganisation will not result in any branch closures and that it plans to keep existing staff wherever possible.

Specialist insurer NMU is set to reorganise in order to digitise the business, Insurance Age can reveal.

The provider said it will reshape the company from a branch driven business into one led by specialist lines.

The company stated the new structure would better support its growth ambitions and utilise current resources.

The cargo insurer, which also specialises in engineering, terrorism and marine trade, detailed that the move was a result of “changing industry dynamics”.

Brokers
Accordin

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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