There will now be three insurance companies within the Hansard Group.
In addition to the existing Hansard International Limited and Hansard Europe dac – based in the Isle of Man and Ireland, respectively – a new insurer has been established in The Bahamas. With an external insurance licence from the Insurance Commission of The Bahamas, Hansard Worldwide Limited (HWL) is expected to commence trading in the latter part of the year to provide portable investment-linked insurance products.
“The establishment of Hansard Worldwide Limited represents a new chapter in the 30-year strong development of the Hansard story and our commitment to clients in all parts of the world,” said Gordon Marr, chief executive of Hansard Global plc, the London Stock Exchange-listed parent company of the Hansard Group. “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.”
Hansard Group, which is headquartered in the Isle of Man, said putting up HWL in The Bahamas provides an important regional presence – supporting physical access to key markets, as well as the ability to better serve clients and advisors across time zones.
