Investments in software and technology firms have already started
Former LV= general insurance managing director John O’Roarke and the original founders of the ABC Group are eyeing opportunities with a new investor business.
Called ABC Investors, the new investor business has already made investments in a software firm and a facial recognition technology business.
The investors are John O’Roarke, Phil Bunker, Paul Cassidy, Steve Castle and Peter Horton (pictured).
ABC Insurance Services, a small business and personal lines insurer start-up, was snapped up by LV= in 2006.
The five went on to take senior roles within LV=’s general insurance arm.
O’Roarke said he was open to investors coming onboard, but would be ‘selective’ about the type of investor who joins.
He said: “We would consider an insurance proposition once we have completed our non-competes.”
After nine years at the helm of general insurance, O’Roarke departed from LV= this year.
Bunker previously led LV=’s broker business, Horton was operations boss, Castle the finance chief and Cassidy risk and compliance director.