British Gas to expand insurance offering

by Gill Montia

Story link: British Gas to expand insurance offering

British Gas has plans to expand in the UK insurance market.

According to a report in The Sunday Telegraph, the group’s ambitions include a listing among the UK’s top 10 insurance providers.

The company, which is owned by Centrica and has a customer base of 4.5 million, has been granted Financial Services Authority approval to underwrite its own household and warranty products, the newspaper reports.

The group is currently advertising for an underwriting director who will be based in Staines and commissioned to “create a top 10 UK insurer within a 2-3 year timeframe”.

The appointee will report to the chief executive officer of British Gas Insurance Limited and focus on converting a “high percentage” of British Gas customers to new insurance products.