CGU has changed its business structure to include a special markets division, a complex risks team and an innovation team in a bid to differentiate itself in today’s increasingly competitive market.

CEO Mario Pirone says the move will assist the group to “drive innovation and create a collective focus on specialised business units”.

He says CGU has brought together its specialised businesses under a new special markets division in a bid to “capture the knowledge and expertise” in one business unit.

The new division brings together CGU’s specialised business units including professional risks, workers’ compensation, marine, home warranty, premium funding, retail business and motor trades businesses.

“A number of our specialised businesses are already recognised as industry leaders and there are several new businesses that we are committed to growing,” Mr Pirone said in a statement.

CGU’s Head of Product and Underwriting Tom Brennan has been appointed as the new Head of Special Markets.

Mr Pirone says the insurer has also introduced a complex risks team to manage complex liability risks and an innovation team to focus on research and development and new product opportunities.

Southern Regional Manager for Corporate Brokers Andrew Beer will manage its complex risks team in addition to his current duties. A new head of product and underwriting and manager innovation are yet to be announced.