Hansard’s deal with the Insurance Authority-regulated local insurer is part of the firm’s strategic objective to attain additional licensed access to key target markets, according to Gordon Marr, the company’s chief executive officer.
“We do not expect this relationship to deliver material levels of business in the 2017 financial year, but believe it has significant potential for new business in subsequent years,” he said when releasing the company results last month.
The new products launched as part of the deal, to be called the Infinity Wealth and Infinity Access plans, will give clients the opportunity to invest in a range of funds managed by some of the world’s largest asset management companies.
The products make use of Hansard’s online platform, allowing Union Insurance’s Infinity clients and their financial advisers access to secure, personalised contract data and fund research tools to help them in monitoring their portfolios around the clock.
“Our intuitive online adviser and client platforms, slick back-office administration systems and relentless quest for customer service excellence have long set us apart from our peers in the industry,” said Marr.
The managing director of Abu Dhabi-listed Union Insurance, Abdul Muttaleb M. Al Jaedi, said the launch of the Infinity products celebrated the coming together of two companies that share a rich history in providing innovative products to an ever-growing market of sophisticated clients.
“We are extremely excited about the launch of Infinity and what it can bring to both new and existing Union clients,” he said.
