Peter Wood goes live with esure

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The Independent Online

Peter Wood, the founder of Direct Line, today launches esure, a new insurance company backed by Halifax. Initially announced last February, esure gained regulatory approval just before Christmas and will kick off by offering Halifax-branded car insurance this month.

Peter Wood, the founder of Direct Line, today launches esure, a new insurance company backed by Halifax. Initially announced last February, esure gained regulatory approval just before Christmas and will kick off by offering Halifax-branded car insurance this month.

The company has two main businesses: the Halifax motor insurance, which will operate initially from a call centre before migrating on to the internet; and online insurance under the separate esure brand. Halifax has invested £150m in the venture, which aims to be writing about 1 million policies within five years.

The 200,000 existing Halifax motor insurance policies will be transferred to the new business during the next 12 months. The separate esure internet insurance business will launch later this year.

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