Have you explored opportunities outside the UK and Isle of Man?
A lot of the life industry is moving to the Middle East and Asia but we don’t see that as fertile territory for us.
There is plenty for us to do with our existing client base. The UK has been fairly stable in terms of growth but the international side, which is predominately Scandinavia and South Africa, is growing significantly.
We are looking at our licensing to see where we could establish another insurance company to be able to access the EU. That is something we hope to do during the next couple of years.
Dublin has around 63 insurance applications at the moment so, even if we wanted to go to there, it would take a few years to be able to get through the regulatory application process because it is done in order of when the application was submitted.
We recently brought Gerald Montagu on board as head of tax, and appointed Terry Runham, who founded Hailo, the taxi app, to spearhead IOMA’s InsurTech proposition. These appointments punctuate what has been a continual growth curve for the group.
