HIU expands its business to commercial underwriting

HIU believes that it has accumulated the internal skills and expertise to successfully expand into the general commercial and industrial insurance and that market conditions are also right for expansion.

Executive chairman of HIU Rory Gainsford says that the company will maintain its operations within the specialist hospitality industry. Therefore, the new commercial venture has been set up as a separate division within HIU. The new division is headed by Madelein Trybus, reporting to Denleigh Wilensky.

As a direct result of this decision, HIU will be under-written by Guardrisk with effect 1 January 2010. The company is currently with Compass Insurance, whose strategic focus is in niche underwriting managers.

Guardrisk has a AA rating from Global credit ratings and has been rated in the PWC survey as the no1 ART insurer in the market. Hannover Re will continue to be the lead reinsurer.

HIU was formed as a specialist underwriting agency in 1998. The company has established itself as one

of the leading hospitality industry underwriters and now looks forward in addition to making a success of its diversification into commercial and industrial risks.