Charles Earle, former managing director of NIG commercial lines, is launching a new commercial lines underwriting operation.
Earle and four colleagues have secured the support of Lloyd's underwriter Canopius and Equity Insurance Group as investors and long term insurers of the core SME property, liability and motor classes of business.
The company, which is subject to regualtory approval, will focus on broker administered SME business in the UK.
Chief executive Charles Earle said: "We have huge advantages in starting with an unencumbered business and no legacies in systems or in management control attitudes, and offer brokers a genuine chance to work with an insurance provider that will design its processes around theirs in an effort to reduce their frictional costs."
The company aims to have the capacity to write in excess of £250m worth of business.
