ABC Insurance, headed by former NIG chief, Phil Bunker, has confirmed its plans to launch in the broker market in June 2007. The business, part of the LV= Group, will initially employ up 30 people in its new headquarters in Croydon.
ABC will begin to underwrite both Personal and Commercial insurance for small-to-medium sized enterprises (SMEs) exclusively through brokers.
Initially, ABC Insurance will launch a business insurance product in June 2007, with a private car product to follow later in the year.
The new business has released ambitious targets, with a stated aim of writing £300m of premium income in the next four years.
Phil Bunker, head of ABC insurance, commented: “ABC's management team have a strong track record within the broker market. Backed by the financial strength of the UK's largest Friendly Society, they are part of plans to transform itself into a major force in the UK insurance market. With no shareholders LV= can put the needs of its customers first, combining the values of a mutual with the performance of a PLC.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
