GE Commercial to merge risk and insurance products divisions

GE Commercial Insurance is integrating its Industrial Risk Insurers (IRI) and Global Asset Protection (GAP) Services businesses into one company.

The move is intended to enable the newly expanded IRI to diversify and upgrade its programme options, including insurance capacity and unbundled loss prevention services. These, or a flexible combination of the two, should provide enhanced support for the risk management requirements of its clients. GAP Services will continue to address the needs of customers seeking independent property risk management services.

IRI president Dan Eudy, who will head the new business, said strengthening IRI’s commitment to the structured property insurance market would provide a strong foundation of risk transfer capacity as well as an expert loss prevention service to help brokers and insureds put together the most viable programmes.

Eudy believes that the merger will provide additional flexibility and responsiveness in meeting customers’ needs.GE Commerical Insurance is a subsidiary of GEEmployers Reinsurance Corporation, one of the world's largest reinsurance companies.