Holloway Friendly has launched a new business insurance subsidiary known as Optimal.

Optimal has been developed to provide business protection cover and employee based solutions exclusively via intermediaries.

The new subsidiary is being run by managing director Nigel Hartley (pictured). He is the former managing director of Lutine Assurance and supported by Marc Osman its former business development manager. They joined Holloway Friendly at the end of last year and have worked with the mutual’s board to develop the proposition for Optimal.

They have also been joined in recent weeks by Sharon Lissaman who will be head of underwriting and technical; Alison Poyner, head of finance and operations, and Lorraine Kimberley, head of group risk.

Optimal will have its head quarters in Birmingham and will market its group protection products through selected financial advisers and employee benefit consultants. Its product range will initially concentrate on Group Life but soon be extended to include Group Income Protection and Keyperson and other associated contracts.

Mat Manser, sales and marketing director for Holloway Friendly, said: “Holloway Friendly has invested in its proposition in order to expand and diversify and Optimal is the result. This will be the biggest change to the Society since it was established in 1880.

“Optimal takes the values established by George Holloway 130 years ago and adds to them in order to provide comprehensive cover to both businesses and their employees. We believe in the value added by financial advisers and so Optimal’s complete range of business and employee insurance products will be provided purely through advisers.

“We will be providing one of the most comprehensive levels of cover in the market, as well as some of the very best rates.”

Hartley added: “I am thrilled to be part of this exciting step in the evolution of Holloway Friendly. To be supported by a strong team and a strong parent has enabled the delivery of a competitively priced product completed by excellent service standards and a relationship focussed business model that I am sure will be attractive in our market space.”