Press Release - 16th April 2007

• New business launched by LV= reveals market launch plans
• New brand identity revealed

ABC Insurance, headed by former NIG chief, Phil Bunker, has confirmed its plans to launch in the broker market in June 2007.  The business, part of the LV= Group, will initially employ up 30 people in its new headquarters in Croydon.

In addition, the business has unveiled a distinctive corporate brand that will soon become instantly recognisable to brokers looking for innovative, competitive, market-challenging products.

Phil Bunker, Head of ABC Insurance, said: “ABC’s new corporate identity builds upon the fresh, vibrant colours of the LV= brand, signifying vigour, growth and the customer friendly attributes of its friendly society roots. The brand also incorporates two interlinking rings, signifying the strong, long-term relationships that ABC will build with its supporting brokers.”

ABC will begin to underwrite both Personal and Commercial insurance for small-to-medium sized enterprises (SMEs) exclusively through brokers.

Initially, ABC Insurance will launch a business insurance product in June 2007, with a private car product to follow later in the year.

The new business has released ambitious targets, with a stated aim of writing £300m of premium income in the next four years.

Phil Bunker adds: “ABC has major backing and a highly experienced broker management team. It is an exciting opportunity to bring something genuinely new to the market.

“ABC’s management team have a strong track record within the broker market. Backed by the financial strength of the UK’s largest Friendly Society, they are part of plans to transform itself into a major force in the UK insurance market. With no shareholders LV= can put the needs of its customers first, combining the values of a mutual with the performance of a PLC.”

Details of ABC’s products will be released to brokers in the coming weeks.