Allianz Cornhill is to begin a drive to generate £100m of gross written premiums (GWP) in SME business over the next three years.

This level of growth would represent more than a 50% increase in the company's current book of business.

Simon McGinn, director of North & Midlands trading for Allianz Cornhill Commercial, has been given responsibility of the company's SME business across the UK.

McGinn said plans to grow the business included "improving the component pricing of our existing products to give a more competitive open market offering". He admitted this could mean "cutting prices in certain sectors but increasing them in others".

McGinn said: "We have had a profitable book of business and good growth of accounts. But we are now saying we want to establish ourselves."