Virgin Money has said that it is planning to enter in the life insurance market soon. The company is all set to introduce itself in the life insurance industry in alliance with Tower Australia.

Both the companies have issued the statement on this in an announcement. For Virgin Money, its managing director Mr. Matt Baxby has informed this fact to the media.

The company is looking forward to enter into this market by the year 2011. It will broaden the insurance portfolio of the organization.

Mr. Baxby has also informed that, there has been an enormous opportunity in insurance sector. The company is looking to expand its presence soon in this sector which is expected to grow in future. He has revealed that there has been a report which says that almost 95% of the Australian families even don't have proper insurance policies.

As per Baxby, Virgin is one of the trusted brands in the country and people expect superior value proposition from the company. The combination of Tower and Virgin will undoubtedly become a successful brand in the country in life insurance sector.