The International Transport Intermediaries Club (ITIC), the world’s premier professional indemnity (PI) insurer for transport professionals, proudly introduces its latest venture, International Transport Intermediaries Insurance Company (Europe) Limited or ITIC Europe. Charlotte Kirk takes the helm as its Chief Executive Officer (CEO), marking a strategic move to fortify ITIC’s presence in the European market, constituting approximately 30% of its membership. This launch also serves as a springboard for further growth.
Jeff Woyda, Chairman of ITIC, expressed his enthusiasm about ITIC Europe and the inauguration of its new office in Limassol, Cyprus.
“The establishment of ITIC Europe as the wholly owned subsidiary of ITIC is a significant leap in our strategy. I am delighted that Charlotte Kirk has agreed to become CEO of this business and have no doubt that she will ably lead the board in building on our vital and longstanding European footprint.”
Woyda shared that ITIC plans to host its September 2024 board meeting in Cyprus, providing an opportunity for the entire board to connect with local members and brokers face-to-face.
Charlotte Kirk, the newly appointed CEO, emphasized the significance of ITIC Europe’s establishment in Cyprus.
“The establishment of ITIC Europe in Cyprus enables us to continue to further develop the high-quality service our European members demand.”
Kirk, with over three decades of experience in the marine insurance market at ITIC, will oversee the new business while retaining her position as ITIC’s Commercial Director in London. Under her leadership, ITIC’s membership has grown to over 3,500 members across 100 countries.
ITIC Europe has already assembled a team comprising an underwriter, claims executive, and CFO. The subsidiary aims to expand its footprint in the European and Middle Eastern markets. Cyprus’s strategic location positions it as a gateway to these regions, aligning with ITIC’s goal to identify and cater to uninsured individuals within its risk profile.
Loss prevention emerges as a pivotal aspect of ITIC Europe’s strategy, with Kirk underscoring the importance of reputation within the PI insurance market.
“We are dedicated to providing our members with proactive loss prevention advice that is vital to safeguarding their business against possible financial loss. This is done through our various channels, including seminars, webinars, and informative circulars.”
Claes Devantier of MB Shipbrokers, a director of ITIC since 2019, is appointed as ITIC Europe’s first non-executive Chair.
