Ensurance CEO Tom Kent says the sale proceeds will allow the underwriting agency to “catalyse” its growth plan for the Australian market.“Now we can look at acquisitions, work on new products. It’s a good position to be in,” Mr Kent told insuranceNEWS.com.au today.He says one of Ensurance’s goals is to “achieve growth over and above market rates” and the business has been able to do so.Ensurance is re-focusing on the Australian market, having worked in the last few years to establish its UK business after selling its local underwriting arm to 360 Construction and Engineering in 2020.Mr Kent says the feedback from brokers has been positive.“We’re finding that brokers just want more products, they want tailored service, they want to be able to have a discussion with an underwriter about a risk rather than just being told they have to log on to another quote and bind platform,” Mr Kent said.
ENA Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
