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Clerical Medical creates three offshore divisions

Clerical Medical is forming three new divisions in a bid to grow its business in the European and UK offshore markets.

The life office aims todouble new business from the UK offshore market within three years. It is also looking to more than double business from Europe within two years and achieve a fourfold increase by 2005.

The new divisions, to be up and running within 12 months, are Clerical Medical Europe, Clerical Medical Offshore and Clerical Medical International.

The Europe division is based in Luxemburg and will focus on meeting the needs of the growing European market.

The offshore division is based on the Isle of Man and is dedicated to the life office&#39s UK offshore business as well as expatriate business written in the Far and Middle East.

The international division is also based in the Isle of Man. It will service customers located in markets to which Clerical Medical no longer sells new business.

Chief executive Robert Walther says: “The marketsin which we operate havechanged significantly over the last five years. Where a one-size-fits-all philosophy worked in the past, the markets have now developed significantdifferences.”


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