Informa Insurance News 24
GERMAN BROKER MLP PLANS TO ENTER UK MARKET NEXT MONTH
German insurance broker
MLP, which targets university graduates, has said that it plans to expand into the UK next month. The Heidelberg-based group
told the
Financial Times
that it would start with 11 consultants in London, adding that “it is a small initiative, but we aim to build up the business
organically”. It said that the UK would be used as a stepping stone into the much larger US market.
MLP captures most of its clients as they graduate from university, when they are of little interest to its competitors because
of low disposable incomes. It aims to provide them with insurance and fund products as their incomes grow. The group, which
has in recent years expanded into Austria, Switzerland and the Netherlands. reported a pre-tax profit rise of more than 40%
for last year.