Holloway Friendly has launched a new business insurance subsidiary, Optimal, to provide business protection cover and employee benefits exclusively via intermediaries.
Optimal, headquartered in Birmingham, will initially market its group protection products through a number of selected financial advisers and employee benefit consultants.
Nigel Hartley, managing director of Optimal, said: "Our research when setting up Optimal was that what advisers wanted above all was very high service standards. We aim to meet those standards and will be starting with a limited number of advisers, rather than put those at risk."
Its product range will initially concentrate on group life but Hartley confirmed it will soon be extended to include group income protection, Keyperson and other associated contracts.
Holloway Friendly said setting up the subsidiary was the result of a wish to expand and diversify. Mat Manser, sales and marketing director for Holloway Friendly, said, "This will be the biggest change to the Society since it was established in 1880.
"We believe in the value added by financial advisers and so Optimal's complete range of business and employee insurance products will be provided purely through advisers.
"We will be providing one of the most comprehensive levels of cover in the market, as well as some of the very best rates."
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