Close Brothers to cut broker relationships in personal lines pull back
Close Brothers has confirmed it will exit some broker relationships over the next year as it pivots away from personal lines premium finance to focus on commercial business.
The provider detailed the partial withdrawal would affect brokers that do not have a commercial lines focus. It calculated this would hit around 120 relationships, 10% of its 1,200 total.
Close had a premium finance loan book of £958m as at 31 January 2025, split between personal lines (£441m) and commercial lines (£517m).
As outlined previously, my priorities remain to simplify the group, improve operational efficiency, and drive sustainable growth. This decision brings us closer to a more
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