Dubai-based Insure Direct (Brokers), enhanced its operations in the UAE capital after recently finalising a management service agreement with Lloyd & Co (Emirates), independent insurance brokers based in Abu Dhabi.

A leading supplier of insurance broking services, Insure Direct said the alliance with Lloyd & Company had established a premier brokerage platform for all classes of insurance in Abu Dhabi covering an extensive client base.

Lloyds’ strategic position in the market has strengthened Insure Direct, providing a combined leverage to target new and under-tapped sectors of customers through innovative products, said a top official.

Insure Direct had earlier acquired the management control of Lloyd & Co (Emirates), aiming to build up on Lloyd’s strong market presence and product range, which has made it a leading player in the sector.

Kenneth George Maw, president and chief executive, Insure Direct, said: “The alliance with Lloyd & Co has considerably strengthened Insure Direct’s position in the market. Our new strategies are focused on long-term prospects and based on the current industry trends.'

'Lloyd’s existing market advantage has provided us with a highly potential area for growth and an opportunity to explore possibilities for new products that meet the specific needs of our customers,' he noted.

Phil Graham, who heads the project as the new CEO, said the agreement opens ways to explore the insurance market here with a new perspective.

'Since the ground is already familiar and the operation maintains a healthy momentum, more attention can be given to expanding the product range. We have a strategic operational edge in the insurance market in Abu Dhabi, which has made by this alliance very promising.'

'Insure Direct’s product clout will support our own goals. This move will benefit not only the two sides, but also customers as the focus will be on expanding our product range,' he added.

Under the agreement signed recently in Abu Dhabi Insure Direct will provide Lloyd with management services and operational support for further upgrading its systems and procedures to international standards and make it a brokerage of first choice.-TradeArabia News Service