CGU is on the prowl for a strong management team for its new, still-to-be-named marine facility.

But it seems that assumptions CGU was recruiting from the ranks of Associated Marine – which it part-owned with Zurich until earlier this year – are off course.

The IAG subsidiary has enlisted recruiting firm Hays Insurance Personnel to find the right people. But a Hays spokesman denied suggestions by Associated Marine CEO Adrian Norman that CGU was stocking up with his staff.

“We’ve already hired quite a few professionals and, to my knowledge, none of them are from Associated Marine,” the spokesman said.

CGU group spokesman Chris Jackson said that although some staff movement between companies is inevitable because the marine sector is small, Associated Marine is not the only marine insurer in the market. “We’re not actively targeting Associated Marine staff.”

CGU announced it would launch its own marine company after the stitching came undone in its long-term joint venture with Zurich in Associated Marine. Zurich argued that IAG’s takeover of CGU invalidated the JV and IAG was ordered to relinquish its share of the highly profitable business.