According to Derek Coles, chief executive of DG:
“This is an exciting development for the business and we believe that, with Lutine under the DG umbrella, the brand will be able to broaden and develop our total market offering. It is a significant business with around 30,000 policies on its books. DG will support Lutine through providing policy administration, claims management and other back office activities.”
Mr. Coles also confirmed that Lutine had signed an additional capacity binder with a Lloyd’s syndicate that will enable Lutine to extend its underwriting footprint.
He continued:
“2013 has been a difficult year of change for Lutine culminating in the sale of Jubilee to ANV Holdings, but I’m confident that bringing the business into DG and adding additional insurer capacity are the catalysts for renewal, growth and stability in 2014.”
