Premium funder Lumley Finance has been rebranded as Elantis Premium Funding under its new owner.

It comes after Wesfarmers sold the business, along with its other Australian and New Zealand insurance broking and premium funding operations, to Arthur J Gallagher last month.

Wesfarmers has also sold its underwriting business to IAG.

Lumley Finance was sold on the condition it stop using the name within six months, to avoid confusion with the Lumley insurance brand.

But Elantis CEO Jurgen Rammesmayer says today’s rebranding was planned as long ago as January.

“Even if we could have retained the Lumley name, we would have made the change anyway,” he told insuranceNEWS.com.au. “The new brand reflects who we are much better.”

Mr Rammesmayer says the business is performing strongly, with 80% growth in premiums financed over the past four years, a 50% rise in the number of business development managers servicing brokers over the same period and record client satisfaction and staff engagement ratings.

“These performance measures are the rewards of investing in a more dynamic and innovative approach to the market,” he said.

Monument Premium Funding will remain a separate brand under the Elantis umbrella. The new name is derived from the French word “elan”, meaning energy, style and enthusiasm.