Warranty Solutions Group (WSG) has partnered with Strategic Risk Solutions (SRS) to introduce a comprehensive lineup of regulated protection products through its new captive WSG Guardian Insurance.
Guernsey-based WSG Guardian Insurance will debut a selection of insurance-backed products including mechanical breakdown insurance which means it is now able to offer regulated and unregulated products to the whole market – including dealer groups, manufacturers, importers and corporate entities where a regulated contract is required.
WSG Guardian Insurance is 100% owned by WSG but run independently by a board of directors, experienced in the insurance industry.
Products are being sold by Warranty Professionals, the regulated subsidiary brand of WSG and will be available to dealers who are either directly registered with the FCA, or are appointed representatives of an authorised principal company.
John Colinswood, CEO of WSG, said: “This marks a significant step forward for our business. With WSG’s extensive expertise and exceptional growth, we’ve recognised the strong demand among both dealers and customers for fair-value insurance products that meet consumer protection expectations.
“The launch of our own insurance company is a strategic move to futureproof our business, deepen our market presence, and pave the way for expansion into new markets.
“It also enables us to maintain competitive pricing for our regulated products, ensuring we stay ahead in the industry. Our goal is to position ourselves as a competitive force in the market, standing out among existing players.”
Peter Child, CEO of SRS Europe added: “Our long-term relationship model is built on a steadfast commitment to client success. Leveraging our extensive experience in the global captive insurance industry, we empower our clients to manage risk effectively and maximise cost-saving opportunities.
“Warranty Solutions Group will unlock significant opportunities with the launch of WSG Guardian Insurance, positioning it as the premier provider of regulated products in the motor industry.”