Mulsanne and Complete Cover parent slips to 2021 loss

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Gibraltar-based motor insurer Mulsanne Insurance more than doubled its gross written premium to £119m in 2021 from £54.8m in 2020.

The provider reported the significant year-on-year increase was driven by continuing to exploit niche areas in the market and building on existing and new broker relationships.

However, the insurer added it had still taken action to address the poorer performing segments of its book alongside expanding where it believed there would be better returns going forward.

Mulsanne also detailed that under a new quota share with reinsurers during the year it increased the percentage of risk ceded

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