Xchanging has merged its UK insurance businesses into one group to be called Xchanging Insurance Sector.

The new unit will include the company’s broking and claims services with Max Pell being appointed MD.

Xchanging UK Executive Director Paddy Byrne says with the commercial insurance market facing the largest number of claims for many years, “our customers are looking for improved service and efficiencies”.

“The [merger] of our UK insurance businesses will… enable us to identify opportunities and implement solutions during the entire insurance lifecycle.

“A single insurance business will remove complexity and duplication while reinforcing the relationship to the other Xchanging businesses,” he said. “This will in turn be leveraged to deliver maximum benefit to our customers.”

In a separate move, the company announced it is negotiating the renewal of its syndicated bank funding. Xchanging’s operations are currently being reviewed by its bankers.