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GERMAN BROKER MLP PLANS TO ENTER UK MARKET NEXT MONTH

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.

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