Insurance broker Newman Martin and Buchan (NMB) has appointed industry veterans Rupert Cutler and Rob Hough in its newly-formed financial and political risk division.

The division will support both new and existing international clients operating in challenging environments, particularly in the Africa and CIS regions.

Cutler will assume the position of managing director of financial and political risks and will report to NMB chairman, Gordon Newman.

With over 20 years’ experience, Cutler was most recently at insurance firm Miller where he developed insurance solutions for banks, traders, corporates and NGOs.

Commenting on the appointments, NMB’s Newman tells GTR: “We are delighted that Rupert and Rob are joining NMB to form a dedicated financial and political risks division. They will work closely with our energy, property and marine teams to develop bespoke policies to fulfil our clients’ trading needs.”

The pair will also focus on structured trade commodity and project finance, investment and operational risks including non-payment, expropriation, war on land and terrorism, Newman explains.