The Acorn Group confirms new products and brand launch for 2025

Non-standard motor insurance business The Acorn Group plans to launch up to three new products this year across its portfolio, as well as reveal a new brand this summer, confirmed Mike Lloyd, the firm’s chief executive.

Speaking exclusively to Insurance Times, Lloyd explained that The Acorn Group – which includes Gibraltarian underwriter Haven, direct taxi and non-standard motor brands Acorn and Motorcade, telematics businesses Carrot and MyPolicy, taxi broker Flag and short-term motor cover firm Briefly, as well as wholesale distributor Granite Underwriting – has ambitions to become a “market leader” in four new non-standard niches across the motor and home markets in the next five years.

These new market entries will sit alongside the business’ current wheelhouse of taxi insurance and non-standard motor.

To fulfil this objective, Lloyd explained that The Acorn Group will launch up to three new products in 2025, with at least one due to be distributed by the direct Acorn brand. The chief executive added that one of the new products will launch ahead of the summer season, while the remainder will be available later in the year.

The group’s new brand, meanwhile, is set to launch “over the summer”.

Immersed in a market

Although at the time of interview, Lloyd was unable to reveal the type of products due to be launched or the nature of the new brand, he commented that they would be focused “across a number of different” business lines distributed by the group as a whole – not purely new products available under the new brand.

He said: “We think there are better products than we have today that serve some of these markets [that The Acorn Group operates in].

“[Across these non-standard lines of business], it’s quite good to have a brand that specialises just in that [specific] market, so that people in that market can go ‘I can clearly see that that business has centred itself completely around who I am and what I do’.”

Currently, around 80% of The Acorn Group’s business is conducted via its direct brands, with Acorn being the largest of these. Wholesale distribution to third party brokers makes up 20% of the group’s business.