According to a report in the Sunday Telegraph, British Gas has ambitious plans to enter into the UK insurance market and become a leading player within a two to three year time scale.
British Gas, which is owned by Centrica, has won approval from the Financial Services Authority to underwrite its own household and warranty products and the company is currently looking to recruit an underwriting director to operate from their offices in Staines.
The utilities company has a customer base of 4.5 million and the new charge will be responsible for converting a ‘high percentage’ of existing British Gas clients to new insurance products.
The new director will also be commissioned by British Gas Insurance Ltd, to create a top ten UK insurance provider within the two to three year time span.
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