Torquil Clark Life Insurance directors Jason King and Simon Platt have quit the firm to set up a new venture.
King and Platt co-founded Life Policies Direct in 1999, which was later acquired by Torquil Clark in 2004.
The pair have not yet announced details of the planned business but say it is unlikely to launch until next year.
King caused a stir recently when he found the straight-through application process for a term insurance policy generated 29 metres of paper.
King says: “We have been pleased to continue directing the business through the transition period of becoming part of the Torquil Clark Group.”
Platt says: “Now that our staff are firmly established, it is a good time for us to move on to new projects.”
Torquil Clark Group managing director John Chapman says the company’s proposition was strengthened by the acquisition and remains well placed in the industry.
He says: “We look forward to continuing the momentum of current business growth while wishing Jason and Simon the very best for the future.”