HM Armed Forces (Army Navy RAF) Life Car Travel Insurance & Banking UK

New Outfit - Forces Financial - parades an impressive line-up of financial benefits for the armed forces.

Close Brothers Military Services and NAAFI have announced the sale of the NAAFI Financial services business to the R3: Group. R3 principals, Rob Proudman and Robin Williams have formed a partnership with NAAFI Financial Managing Director, Al Voice, to make the purchase. The trio’s combined expertise in the military and insurance markets, and innovative product design ensures continuity of service, and promises big benefits in the form of progressive solutions to meet the demands of their customer’s challenging occupations.

The new company – Forces Financial – is launched with the following initiatives, which will provide some immediate support to those in the military, while the company embarks on a period of consultation with the Armed Forces in order to take financial services for serving personnel into a new era.

Forces Financial new panel of 26 Motor Insurance providers will offer competitive premiums in the UK, with additional features like airside and portside cover to meet the specific needs of the Forces. Work on expanding the panel for overseas customers, from one to at least four, will be undertaken in the coming months.

Forces Financial are introducing a new Private Pleasure Craft insurance, which is of particular relevance for those posted abroad looking for a keenly priced policy which falls under the protection of the Financial Services Authority.
There is the promise of more product solutions coming on stream in the months ahead that will be particularly attractive to this market, plus an independent investment and savings service, and mortgage service.

Forces Financial MD, Al Voice, said:
“ I believe Forces Financial will provide the military insurance market with a much needed shot in the arm, as it is my fundamental belief that the Forces have not yet had solutions presented to them which fully recognise their uniqueness. Forces Financial has the expertise, distribution channels and influence to deliver this – in abundance. I am proud of the operationally focused protection we have always provided, but I believe I share with commanding officers a greater aspirational goal to enable those under their command to fulfil their financial dreams. My team and I will be consulting with service personnel at all levels to determine exactly how best we may achieve this together.”

It is the company’s intention to operate from existing outlets, and the current team, primarily made up of military dependents, partners and ex-service personnel, remain committed to the market, ensuring a seamless handover and ongoing relationship with existing customers. All points of customer contact remain the same, and at policy renewals they will see the advantage of a truly brokered service from Forces Financial, in both the price and cover offered.

Forces Financial customers will also benefit from being affiliated with sister R3: company, Stuart Harvey Insurance Brokers, a brokerage with 25,000 police customers and 12,000 special constables insured. It is the team’s belief that the Forces share a similar ethos, and in combining the two companies a complimentary, beneficial alliance will be formed, with in excess of 100,000 customers, sharing the best financial products and practices of both with each other.

Robin Williams, Director of R3: Group comments, “The acquisition of NAAFI Financial continues the R3:’s growth strategy in the affinity sector. The military is a specialist niche and we will use our expertise to launch additional tailored products to this market. We intend to develop the NAAFI Financial insurance offering further to provide the market with wider choice, competitive prices and appropriate cover”.

http://www.forcesfinancial.com