Clerical Medical Offshore could look at entering the Middle East and Singapore markets, following the appointment of Paul Massey as the new managing director.
In his new role, Massey will be responsible for delivering the company's tactical and strategic objectives. He will be responsible for strategy and planning for the company's growing offshore business, based in the Isle of Man. In addition to the Isle of Man operation, Paul will have responsibility for the Hong Kong and Jersey businesses and will consider the opportunities for further overseas expansion.
This includes potentially launching into Dubai and Singapore. Dubai has a large expatriate market that the company could tap into. Singapore has recently introduced intermediary legislation that could open up new opportunities for Clerical Medical Offshore to sell its products in the country. However, exact decisions of what the company plans to do are yet to be finalised.
There are two distinct business directions for Clerical Medical Offshore. The first is the offshore business that consists of products being sold back into the UK. The second is the overseas business that consists of their markets in Hong Kong and the Far East.
Other developments comprise improving the customer service aspect of the company. This includes improving the technical systems Clerical Medical Offshore uses.
Massey joins Clerical Medical Offshore from Friends Provident International, formerly Royal & Sun Alliance International Financial Services Limited in the Isle of Man where he was finance and operations director before becoming deputy managing director in 2000.
Prior to working for Friends Provident International, Massey worked for Bain Hogg Insurance Brokers in London where he was UK retail finance director from 1994 until 1996.
Clerical Medical specialise in the provision of investments, pensions, life assurance and international investment products for both the individual and corporate markets. Its main line of product distribution is through intermediaries.