AIG Affinity is set for a major push into the health and protection affinity sector.
The insurer is gearing up to grab 10% of the market, which is expected to be worth £660m within three years.
"In the modern market you need to have the breadth of distribution," Mike Caidan, head of AIG Affinity, said.
"We see the UK affinity market as a major opportunity for growth."
The company plans to target growth across the banking sector by persuading them to sell low cost cover.
Caidan said there had been a gap in the market for low cost premium with many banks preferring to focus on personal lines.
The push on health and protection will see the insurer relaunch a range of products, including health cover and female cancer income protection.
"These are not full blown private medical insurance products. What we are offering is peace of mind," added Caidan.
Emphasis was on the need to retain a strong customer base, Caidan said.
"We want to drive revenue growth through expertise and innovation, and resolve our customer issues through researching their needs."