Ambitious expansion plan targets drivers, pet owners and travellers
Churchill Insurance is to revamp three of its main insurance products and launch personal loans and life insurance as part of an ambitious expansion programme.
Starting from April the insurer is to extend its motor insurance footprint to attract more younger and high performance drivers. In May the company will relaunch both pet and travel products.
And July will see the launch of a personal loan scheme backed by the Royal Bank of Scotland Group.
Churchill managing director Mike Quinton said: "This demonstrates Royal Bank's commitment to the Churchill brand.
"When you look at Direct Line they have a much wider range of products, something we are keen to see Churchill emulate."
Quinton confirmed that both the launch of personal loans and the re-launch of pet and travel would be accompanied by a major investment to drive the brands forward. A multi-million pound television advertising campaign would publicise July's personal loans launch.
He said: "The big one for us this year is the launch of the unsecured personal loan product. What we have in Churchill is a brand that is very powerful and we have to build on that."
Quinton did not rule out more product launches in the personal finance sector.
But he confirmed the company had no further immediate plans.
He said: "We have looked at what we have and want to make sure that the core products are competitive.
"Last year was one of our best in terms of terms of new sales and we are keen to see that grow. What we are looking at is profitable growth - with the emphasis on profitable."
