Parent company Hansard Global said in a statement to the London Stock Exchange that it has entered into a strategic alliance with Union Insurance Company PSC (Union Insurance).
Union Insurance has appointed HIL as reinsurer and administrator of its new savings and investment proposition, ‘Infinity’, which will be launched in February 2017.
“This alliance forms part of Hansard’s strategic objective to attain additional licensed access to key target markets”, the company said.
Hansard’s move comes as the Insurance Authority is to issue a new draft and open a fresh consultation within weeks on plans to tackle high fees and hidden commissions in the life industry after requests for a ‘two-year delay’.
