Gallagher has appointed Tim Chance (pictured) as Managing Director of trade credit and surety for its UK & Ireland Retail business.
In his new role, Tim is responsible for building on the existing success of Gallagher’s trade credit & surety practice, which supports businesses nationally, and has teams based in London, Birmingham, Swindon, Manchester and Glasgow. He is well placed to take on this role as he has worked at Gallagher for the last eight years and, as a result, has strong existing relationships with clients, as well as insurer partners, and brings a wealth of technical knowledge on trade credit insurance.
Tim joined Gallagher in 2016 as Practice Leader for trade credit and surety, which saw him managing teams in Birmingham and Manchester as well as overseeing growth, client relationships and product development. Prior to joining Gallagher, he was National Practice Leader, Corporate Division, at Marsh where he supported large corporate clients working across all industries in the UK.
Gallagher’s trade credit & surety practice provides tailored insurance products to clients, from SMEs to multinationals, across a wide range of UK industries and has large customer bases in the construction, retail, technology and financial sectors. Traditionally seen as an insurance for larger businesses, there is increased demand amongst smaller and more niche firms which are looking to protect their business from the risks of debts in the current economic uncertainty.
Tim Fisher, who has held this role since 2015, will step down and take a part-time position as he looks forward to retirement. This will help to guarantee a smooth transition for colleagues and clients. Under his leadership, the team has tripled in size and both Tim Fisher and Tim Chance will report into Steve Risk, Regional Managing Director, South West at Gallagher.
Steve said: “I am delighted that Tim Chance has become Managing Director of trade credit and surety.
“At Gallagher, we are committed to nurturing our talent and promoting from within our business so it is brilliant to have such a strong leadership candidate as Tim ready to take over. He has proved himself an enviable leader since joining and I am certain he will take the practice from strength to strength. Tim Fisher has done a fantastic job of leading our trade credit and surety practice and I am very grateful for his hard work and dedication over the years.”
Tim Chance said: “I am delighted to have the opportunity to lead this talented team and highly important element of Gallagher’s client proposition. Trade credit insurance plays an important role in providing businesses with protection against non or late payment, an issue that is firmly on the minds of many business leaders given the current trading conditions for UK firms. Our approach of understanding the risks each individual business is facing and working with them to provide tailored solutions means we are well place to grow further and expand our client base.”