New insurance venture launched by Tory peer
Lord Sheikh has launched a new Westminster-based insurance broker and underwriting agent, Macmillan Sheikh.
The former Lloyd's broker founder and Conservative Peer's new company also has an independent financial advisor offering a range of commercial and financial insurances.
It will operate on both a retail and wholesale basis.
Lord Sheikh has become chairman and has appointed a team of directors and senior management.
Lord Sheikh said: “I am delighted to announce the launch of Macmillan Sheikh and to be returning to the insurance and financial services markets.
"Recent years have seen a lot of change in the financial and insurance markets but there will always be a need for specialist knowledge, service excellence and innovative products.
"With the experience of a great team behind it that is exactly what Macmillan Sheikh intends to bring to our customers and the market.”
Lord Sheikh was once chief executive and chairman of Lloyd’s insurance broker and IFA Camberford Law. The company was sold in a mangement buy-out in 2008.
Latterly he became the Conservative Party's first Muslim peer and plays an active role in the House of Lords.
Macmillan Sheikh is set to unveil a range of specialist schemes in the coming months, the company said in a statment.