Premium funder rebrands after acquisition completed

Premium funder rebrands after acquisition completed

Premium funder rebrands after acquisition completed Lumley Finance has rebranded as Elantis Premium Funding in Australia and New Zealand in a bid to better reflect a shift in the culture and performance of the organisation over the past few years.

Under the new owners Arthur J Gallagher, which also bought Wesfarmers’ broking operations, the Australian and New Zealand premium funding arm will become one entity under the Elantis brand.

Elantis Premium Funding CEO Jurgen Rammesmayer said the company will remain independent of the broking operations, adding it will continue to focus on “building rewarding relationships with our broker clients”.

Wesfarmers sold the underwriting business to IAG in June, also acquiring the use of the Lumley name as part of the deal.

Elantis said the rebrand reflects other changes, as well as the divestment of the Wesfarmers insurance arm. It points to shifts in the culture and performance of the organisation, an 80% growth in the value of premiums financed over the past four years, a 50% increase in the number of business development managers servicing brokers over the same period, the “highest ever” client satisfaction scores for the business and staff engagement scores in the 90th percentile.

Rammesmayer said these performance measures were a result of its approach to the market in recent times and the business wanted to align a new name, and look and feel to showcase this change.

He added: “The name ‘Elantis’ is derived from the French word ‘elan’ meaning energy, style, and enthusiasm – exactly the values our business embodies.”
 
5 Comments
  • Luke 14/07/2014 10:06:25 AM
    Independence? Really. One profits from the funding business will go to prop up their broker business, the very one we compete against. Two, is our client data really safe?
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  • Peter 14/07/2014 1:13:12 PM
    Luke, so by Wesfarmers splitting off their underwriting business from their broking and premium funding, suddenly client data has become unsafe? Over reaction much? If that were the case the new company would be shooting themselves in the foot before they even launched.
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  • Colin 14/07/2014 1:47:57 PM
    As in the past the Broking arm will get better terms than the general Broking market. So why bother to use them.
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