New business levels up 42% following Allianz takeover
High net worth specialist Home & Legacy is back on track after a “traumatic” year of change, its managing director says.
Barry O’Neill, who took charge in June 2007, a year after the company was acquired by Allianz, said: “We are coming out of the transition period. It has been pretty hard, pretty painful.
“But this has proven to be an incredibly good year. We are finding that brokers are responding to our position in the market.”
O’Neill said enquiries among its 1,800 brokers had risen 72% and new business levels were up 42% compared to last year.
The company, which employs around 70 people, relocated to Milton Keynes last year and changed its operating system to Acturis. It has also rewritten the wordings for its product range and has begun reviewing its panel arrangements with insurers. Last month, Fortis joined the household panel, with one more insurer expected to be added this year.
In March, Home & Legacy expanded into the motor market and launched a new product with insurers Chaucer and Groupama.