HSBC Insurance cease underwriting UK motor business
The company has announced its intention to focus on life, pensions and investment and move away from underwriting general motor insurance in the UK
HSBC Insurance has ceased underwriting motor insurance business through its two operations HSBC Insurance (UK) and HSBC Insurance Management Services.
The companies will cease to underwrite new motor insurance business with immediate effect but will continue to service existing policyholders until their policy is due for renewal. The businesses look after around 400,000 policies.
As reported in this month’s Insurance Age (September 2009, p1), Insurance Australia Group had been tipped to buy HSBC
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Interview: Simon McGinn on Dual’s regional ground-up build for brokers
In his first interview since taking up the role, Dual UK CEO Simon McGinn tells Insurance Age about his plans for the managing general agent, including expanding the reach with regional brokers and boosting the digital offering.
Personal lines broker boss Mike Crane exits LV
Mike Crane, managing director of LV Broker, has decided to leave the business and is being succeeded by portfolio pricing director Nicola George with immediate effect, Allianz has confirmed.
Biba Conference 2024 countdown: Arch Insurance UK’s Mike Bottle
Mike Bottle, SVP, strategy and distribution at Arch Insurance UK regional division, tells delegates not to overcommit and book meetings wisely, explains why Arch’s stand offers a great space for productive conversations, and outlines his love for the Stone Roses.
ABI stops short on voluntary premium finance cap as it sets out five principles
The Association of British Insurers has stopped short on a voluntary industry-led cap on premium finance as it set out five principles aimed at helping consumers manage the cost of paying-monthly for motor insurance.
Dual to open two UK offices as McGinn’s regional push gathers pace
Howden-owned managing general agent Dual will be opening two offices in the UK within a year, aiming for 12 to 15 staff in each to build its regional broker business, Insurance Age can reveal.
AA’s insurance arm Ebitda jumps by 42%
The AA’s insurance arm’s adjusted Ebitda rose by 42% to £64m as its broker books fell slightly in the year ended 31 January 2024.
Aviva to open branches in Chelmsford and Southampton
Aviva is to open offices in Chelmsford and Southampton, delivering on its promise to set up two new branches this year, Insurance Age can reveal.
IPT hits record £8.1bn in 2023/24
Insurance Premium Tax receipts totalled a record £8.15bn in 2023/24, up 11.4% on the year before, HMRC has confirmed.
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace