Addleshaw Goddard advises John Lewis on launch of new insurance broker business

Addleshaw Goddard has advised John Lewis on the establishment of its new insurance broker business as part of the retailer’s strategy to expand its financial services offering. The launch of the new insurance proposition using a panel model is a significant milestone in the development of John Lewis' insurance business. The new model means John Lewis will work with a panel of insurers, instead of just one, and will therefore be able to offer more competitive pricing for customers.

The Addleshaw Goddard team advising on the new proposition was led by insurance partner Rob Garwood and supported by a multidisciplinary team spanning insurance, financial regulation, IT and outsourcing, data protection and employment, amongst others. The work follows on from the establishment and authorisation of John Lewis Finance Limited as an insurance and credit broking intermediary, which was supported by specialists from across Addleshaw Goddard’s financial regulation, corporate and insurance teams. 

Ben Koehne, Partner - Head of Financial Services Sector at Addleshaw Goddard said: “Establishing John Lewis Finance Limited and a new insurance broking proposition of this scale required careful coordination across regulatory, commercial, governance and operational workstreams, amongst others, as well as the integration of a wide range of specialist suppliers.” 

Rob Garwood said: “This project demonstrates the strength of our multidisciplinary capability to support clients as they develop new and innovative insurance products and bring them to market.” 

The launch of the new insurance offering has attracted significant interest across the insurance industry and the wider media as John Lewis expands its financial services footprint