TT Club Boosts Presence in North Europe Markets

September 30, 2004

The U.K.-based TT Club, a leading transport insurance mutual, announced that it is assigning more resources to expand its presence in the continental European market, particularly in Germany, Scandinavia and the Benelux Countries.

TT has named Niels H. Aaskov to lead the continental Europe underwriting and claims team and at least one senior underwriter will join the team at the Club’s London headquarters, filling an existing vacancy. In addition Thomas Keller, responsible for the German-speaking regions, has relocated to Frankfurt am Main, Germany. He was previously based in Switzerland.

“These moves enable us to be more responsive to the needs of the market and to the brokers who support us,” commented COO Colin Lewin. “We want to further develop our business in Germany, Scandinavia and the Benelux countries but we shall be developing with superior products and service, without compromising our
strong underwriting principles.”

The bulletin noted: “The TT Club revealed during the summer that it planned to boost its share of the land transport and logistics sectors and to diversify from its more widely-recognised business insuring ship operators, ports and terminal facilities. The appointments announced today are a step towards that goal. By the end of the year the Club also expects that it will have developed an improved policy cover for logistics operators. This will further support the Club’s ambitions as it is introduced through 2005.”

Aaskov joined the TT Club in 2000 to develop the Club’s property insurance portfolio, which has “climbed from under seven per cent of the Club’s premium income to more than 20 per cent in the latest financial year,” said the announcement. “Mr. Aaskov will retain his specialisation for this market sector worldwide, in addition to his new European management responsibility,” it concluded.

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