Insurance company has plans to expand

Wednesday 31st October 2007, 12:00AM GMT.

ISLANDS Insurance is hoping to acquire the personal lines insurance business of Lockton International in the Channel Islands, if approval is granted by the regulator.

The Jersey Competition Regulatory Authority (JCRA) last week posted a notice of application asking for comments on the proposed deal.

Islands Insurance specialises in personal insurance such as motor vehicle, residential buildings and contents, caravans, travel and motor breakdown, and marine insurance, whereas Lockton International’s business focuses primarily on commercial and financial institutions.

Ian Touzel, a director at Islands Insurance, said it was too early to provide any detail about the proposals because of regulatory restrictions, although he confirmed that the Guernsey-based business was included in the proposal.

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