ABC Insurance, LV’s broker distribution arm, is to follow the opening of an office in Sheffield with two branches in the South of England.
Phil Bunker, head of ABC, said plans were underway to open two additional offices in Bristol and Bournemouth by the end of 2008.
Bunker admitted it was an odd time to open an office in flood-ravaged Sheffield but said the company had not shied away from an aggressive growth plan.
The Sheffield office began trading this week.
Bunker said: “Our plan in place involves a lot of growth and investment.”
The company, which opened its first branch in Croydon in June, aims to hire an additional 24 employees to run the new operations which will offer commercial combined products to small and medium sized businesses.
Bunker said ABC’s strategy was to put a strong network in place while the market was soft, enabling the company to write more business when conditions hardened.
He said: “We have set an ambitious target of writing £300m of premiums over the next four years.”
Bunker said ABC also planned to introduce a private car product later this year.
The Sheffield branch will be headed by Mick Davis, formerly regional manager at NIG’s Leeds commercial branch.
Kim Chambers, also formerly of NIG, has been appointed branch underwriting manager.