Be Wiser slams unrated insurers as it posts loss for 2018

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Private motor broker Be Wiser has posted a loss before tax of £2.2m for the year ended 31 May 2018.

This is compared to a pre-tax profit of £1.1m in 2017.

The broker also reported a dip in turnover to £26.1m, down from the £32.7m it achieved in the previous year.

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Be Wiser chairman and chief executive Mark Bower-Dyke told Insurance Age that the loss was driven by “unbelievably poor market conditions” in the private motor sector.

He stated: “The market has been ripped apart by the

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