Last checked at 17 May 2018 07:00
17 May 2018
Hansard Group launches new insurance company to support further growth
Hansard Global plc, the London Stock Exchange listed parent company of the Hansard Group, today announced that it has established a new insurance company in The Bahamas, Hansard Worldwide Limited (HWL).
HWL was granted an external insurance licence by the Insurance Commission of The Bahamas (ICB) on 16/05/2018 and is expected to commence trading in the latter part of 2018. It will operate as part of the Hansard Group, alongside the Isle of Man based insurer, Hansard International Limited. HWL will provide portable investment-linked insurance products to mobile, internationally-minded clients who wish to manage their long-term finances with a global perspective.
Establishing a licensed presence in The Bahamas, in addition to its existing licensed presence in the Isle of Man which will remain its headquarters, provides the Hansard Group with an important regional presence. This will support physical access to key markets such as Latin America and the ability to better serve its clients and their financial advisors across those time zones. The quality of infrastructure and availability of established, experienced support services which The Bahamas can provide are consistent with Hansard's long-term plans. HWL is an important milestone in the history of the Hansard Group as it takes steps to ensure that it is correctly positioned for future developments and change, in light of longer-term industry and technological evolution.
Gordon Marr, CEO of Hansard Global plc, explains "The establishment of Hansard Worldwide Limited represents a new chapter to the 30 year-strong development of the Hansard story and our commitment to clients in all parts of the world. To ensure we continue to support our mobile, internationally orientated clients, HWL will be working with high quality international, regulated independent financial advisors. The granting of its licence is the first step in the establishment of the HWL business. We look forward to providing further information as we progress."
Notes to editors
· Hansard Global plc is the holding company of the Hansard Group of companies. The Company was listed on the London Stock Exchange in December 2006. The Group is a specialist long-term savings provider, based in the Isle of Man.
· The Hansard Group administers assets in excess of $1.4bn for approximately 40,000 clients across the globe.
· Together with Hansard International Limited and Hansard Europe dac, the launch of HWL takes the number of insurance companies within the Group to three.
Points of contact:
Ben Woodford/Geoffrey Pelham-Lane/Kimberley Taylor
Camarco
020 3781 8333
Gordon Marr
Hansard
01624 688 000
Graham Morrall
Hansard
+971 55 6869743