The company plans to move into other product areas later in the year and aims to become a top five group risk player within three years.
The business will at first be targeting unit-rated cases in a bid to establish a solid platform for future growth and build a reputation for service.
Skandia says it is seeking to differentiate itself in the market by offering attractive free cover levels, forward underwriting, the option to process underwriting and claims by phone and dedicated case management.
Zurich Corporate Risk head Jonathan Plumtree says: “We understand what it takes to succeed in this market and are confident we can reach our growth ambition of becoming a top five player by 2012. We have built a great team, who are committed to providing intermediaries and their clients with the exemplary service they have come to expect from Zurich. We are determined to offer competit- ively priced, attractive products to meet the varied needs of corporate customers.”