Pulse launches term life cover for UK and Europe

Sue Clark appointed as senior underwriter

Adam Saville
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Pulse launches term life cover for UK and Europe

Pulse Insurance has entered into an agreement with Quantum Leben AG in Liechtenstein

The partnership will offer term life cover to insureds in the UK, EU, EEA and Switzerland.

As part of the announcement, Sue Clark has been appointed as Pulse Insurance's senior underwriter to develop the proposition for the London market and to allow it to effectively offer a solution to Lloyd's and London brokers struggling to place EU, EEA and Swiss risks now that doors have closed to European term-life business.

The individual cover, which has been developed alongside boutique Liechtenstein life insurer Quantum Leben AG, will offer a maximum term of 10 years. The usual cover amount is up to £790,000 (€890,000), initially targeted at individuals who are unable to obtain cover from the standard market because of health issues.

Pulse is also offering a dedicated cover for potentially exempt transfers, "Gift Inter Vivos", for insureds up to age 85 at inception, while cover for individuals over 60 is still available despite Covid-19 with all individuals being considered on a case by case basis.

The insurer said it expects to eventually roll out a full range of solutions for London market term life business including non-standard and SME group business, white label schemes as well as individuals with health problems. 

'Winning combination'

Paul Sandilands, chairman of Pulse, said:  "This is something that we have been working towards for some time. Our ability to quote and bind business from Europe is a key part of our strategy for the future. At this point, more than ever before, we need to work together to provide solutions to complex problems.  London's technical expertise, coupled with the flexible risk appetite of Quantum is a winning combination."

Sue Clark, Pulse senior underwriter, said: "I am delighted to be joining Pulse.  There are very few businesses able to offer flexible solutions at the moment.  As large life carriers look to automate more and more of their processes, there is a clear opportunity for a nimble and responsive MGA to support clients flexibly."

Martin Kampik, CEO of Quantum Leben AG, said, "We are delighted to have finalised this agreement with Pulse.  We are committed to working with Pulse to build a new London market solution for European life business and our plans envisage significant growth for us over the next few years."

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