Experts warn of reinsurance market crunch
Smaller players without scale may struggle with reinsurance costs going forward as issue is highlighted by the collapse of motor trade specialist Tradewise.
The motor trade specialist had been in trouble since before Christmas and the administrative axe fell as the industry returned to work in the New Year.
Earlier this month, Tradewise went into administration.
In a communication to brokers sent on 10 January and seen by Insurance Age, Tradewise said: “As you are all aware, Tradewise have been unable to bind New or Renewal business since 1 January 2022. There was a year left on the three-year deal with Berkshire Hathaway, although their
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Adler Fairways buys Mason Owen Financial Services
Adler Fairways Insurance Group has bought Liverpool-headquartered Mason Owen Financial Services expanding into the North and East of England, Insurance Age can reveal.
SRG discloses UK deal prices as international dominates 2025 spending spree
Specialist Risk Group picked up a record bill of £403.8m across seven deals in 2025, with the majority spent on international expansion as it moved into Europe and Asia.
TH March ties the knot with ShieldMy expanding into wedding insurance
Top 100 UK broker TH March has launched wedding insurance in partnership with ShieldMy Insurance Services.
Marco Capital sails in to buy MGA incubator parent Pro Global
Marco Capital, the property and casualty legacy consolidator and parent of insurance services group PoloWorks, has signed up to buy Pro Global.
Meet the MGA: Lumara
Having helped set-up one MGA in Arista two decades ago, Lumara CEO David Aslin explains why he is going again, seeking to be a top three partner with its brokers through a combination of expertise, flexible products and agency exclusivity.
Pets at Home enters insurance market on aggregator
Pets at Home has launched an insurance offering exclusively on Compare the Market.
Broker hit for £250,000 – FOI reveals insurance sector’s S166 bill
A Freedom of Information request by Insurance Age has revealed the amount spent by a broker, and insurers, on Financial Conduct Authority-mandated skilled persons reviews that completed in 2025/26.
Prestige first up as Source broadens landlord offering
Managing general agent Prestige Underwriting has joined the Source Insurance landlord panel as the first underwriter of its 5-Star Defaqto-rated residential landlord insurance product.