Midas, which is the trading name of MDSCO Limited and part of URIS Group Limited, has launched Midas Let Property. The new residential landlord proposition is backed by Zurich and caters for accidental landlords and those in the professional lets market.

Initially, the product will be available to brokers through software house Applied, with plans to expand distribution to additional platforms in due course.

Derek Coles, chief executive officer of UGL, said: “Midas Let Property gives us a strong platform to re-enter the sector with a proposition backed by quality capacity and aimed at the parts of the market where brokers continue to need support.

“Launching through Applied on day one gives us a solid starting point and our intention is to expand distribution further as the proposition develops. For many of our existing broker partners, this will be another relevant product they can access through Midas, helping us meet demand in an area they already write business.”