Insurance heavyweights Max Carruthers and Bradley Brandon-Cross have launched a new intermediary that aims to handle £350m of premium income within three years by offering branded services.

The new venture, the Rubicon Corporation, targets a £10 bn insurance market written under 700 brands, such as banks, building societies and major retailers.

Rubicon will provide initial quotation and sale, mid-term adjustment, policy renewal and claims handling for their clients.

“We are offering the first end-to-end solution in the market – no-one else does that,” said Carruthers.

“It means product design and sourcing, in and out-bound sales, mid-term adjustments, claims recording, adjudication and settlement, renewal quotation and sales.”

Carruthers, the former group director of Eastgate, and Brandon-Cross, the former managing director of GE Financial Insurance, claim to have a large warchest to fund rapid acquisition and 1,000 staff at sites across the UK.