New insurance business launched

New insurance business launched | Insurance Business

New insurance business launched
Former Lumley CEO John Lyon has launched a new NZ-based insurance business with a group of his ex-Lumley colleagues including Dean Edwards.

The new company has been formed in conjunction with Hollard Insurance of Australia and is called Ando Insurance with Lyon as its CEO.

“Ando Insurance will be uniquely placed to build a new high quality multi-lines insurance business, bringing together a highly experienced and respected team to complement Hollard’s innovative and entrepreneurial business model,” the company said in a statement.

It also said the business would be majority owned by the New Zealand management team, with Hollard also being a key shareholder and provider of most of Ando’s underwriting capacity.

“For brokers and partners, the Ando team will be working hard to simplify and streamline business to achieve greater efficiency and quality, bringing much needed choice to consumers in the process,” the statement went on.

“Being agile and focused and without any legacy baggage, Ando Insurance will be uniquely placed to take advantage of emerging trends in the industry, such as the disruption to the traditional insurance value chain, and new distribution channels.”

The business was looking to recruit “talented and ambitious insurance professionals” in order to start trading “towards the end of the year”.

“In the meantime, the team is keen to engage with brokers, partners and prospective staff to see how we can create a new force in the market to mutual benefit.”

Insurance Business hopes to bring you more details this week.