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Tuesday, 16th April 2024
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Caledonian chases 5 per cent of insurance market Back  
The Royal Liver Group launched a new life assurance business in Ireland, Caledonian Life, which aims to take 5 per cent of the brokerage insurance market over the next three years.

Caledonian Life was created from the purchase of the former Guardian Life Ireland by The Royal Liver Group for £105 million in April 2000.

Initially the company will sell life assurance products and plans to offer pensions in the future.

Caledonian Life will operate in different target markets to Royal Liver and will offer its own products. Unlike Royal Liver, Caledonian Life will only operate through independent brokers. Since the purchase of the Guardian business, the group has invested substantially in its computer systems and says it has developed the first ever Internet based system for the immediate completion and acceptance of life assurance proposal forms.

Caledonian, bucking the trend, has completed the process of transferring its 100,000 plus policyholders from their plc status under Guardian Life Insurance to a new mutual status.

Caledonian also expects the number of employees in Dublin to double to over 100 by the end of the year.

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