Insurer offering life and critical illness through advisers aims to grow protection market by £700m
Following its acquisition by Gryphon Group Holdings in December 2017, the heritage brand founded in 1821, Guardian, has relaunched in the UK following a successful pilot scheme backed by £180m of investment.
The new enterprise aims to grow the protection market by £70m by offering a range of innovative products designed to make cover simpler to buy and easier to understand at the point of sale. Following Guardian's first raft of critical illness and life insurance products, income protection is set to follow in early 2019.
The firm claims to have identified over 30 areas of change to products, service, technology and underwriting which it believes will help IFAs and brokers.
Guardian's primary investment source for this venture has been Punter Southhall Group, who in turn are a major investor in Gryphon Group Holdings.
Guardian chief executive Simon Davis said: "It's an exciting time to be in the protection market and I'm proud to announce that Guardian Financial Services is now open for business. This is an important milestone in the history of the Guardian brand and we look forward to growing the protection market in the UK, with a revived brand and an innovative approach to products and services.
"Our focus has been to design products that are easier to understand and easier to claim for. With an ambition for every family to have protection that they truly believe in, we're determined to build public trust and work closely with all our distribution partners to revitalise this market."
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