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Lombard to establish insurance company

Listed finance company Lombard Group has decided to establish an insurance company, and has contracted Marsh Limited, the world's leading risk specialist and insurance broker, to provide the necessary consulting services.

Thursday, March 9th 2006, 6:00AM
Lombard chief executive Michael Reeves says the establishment of an insurance business is a natural move in line with the company's stated intention to build on its solid base in commercial lending and finance.

"We believe that specialist insurance products for the financial services sector will be a valuable adjunct to our existing finance products, with appeal to both current and future customers," he says.

The insurance business is expected to be running in the next quarter.

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