Sterling Insurance Group is to launch a string of products in a bid to double the size of the business in the next three years.
The first product will be a new high net worth (HNW) offering.
The Surrey insurer specialises in commercial SME and mid and high net worth insurance, with premiums totaling approximately £142m.
David Sweeney, director of personal and commercial lines, said: “We will be launching a new high net worth product to complement our existing mid-high net worth policy, Executive Home, in the second quarter next year.”
The company has already recruited two high net worth underwriters to lead the team – Alison Colver, previously a senior underwriter at Hiscox for 11 years, and Stuart Runciman, previously of Chubb.
Sweeney added: “We have changed a lot of people because we are gearing up for growth in the broker market.
“We are putting our money where our mouth is and we will try to help the brokers grow.”
He added: “Brokers tell me that the big insurers don’t really care about them.
“We want to have strong broker relationships and take it to the next level.”
He also said that the insurer had no plans to go direct.
Sterling Insurance made pre-tax profits of £9.3m for the year to December 2006.
