BNP Paribas to exit premium finance in 2024
BNP Paribas Personal Finance will leave the premium finance market on 31 March 2024, Insurance Age can reveal.
Rumours of the exit plans first started to swirl last week however the lender declined to comment when approached by Insurance Age.
The firm was silent on what prompted the decision and why it would only be giving brokers a few months’ notice. BNP Paribas Premium Finance also did not address whether it would be offering introductions to alternative lenders.
Correspondence with brokers seen by Insurance Age has detailed: “This decision has been taken as a result of changes within the PF UK business
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 Insight
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.
Biba Conference 2024 countdown: SSP Broker’s Martyn Matthews
With the Biba Conference just weeks away, Martyn Mathews, managing director of SSP Broker, quotes psychologist Carl Jung and recollects getting his kids foam swords and shields.
Bartlett grows turnover in 2023 as profits remain stable
Bartlett Group increased annual turnover in 2023 to £17.87m from £16.08m amid stable profits of £1.79m, according to its latest Companies House filing.
Gallagher maintains organic growth in Q1
Gallagher has posted 6% organic growth in its UK and Ireland retail division for the first quarter of 2024.
Aon completes NFP deal
Aon has completed the $13bn (£10.4bn) acquisition of NFP.
My Insurance Downtime: Richard Webb, Pen Underwriting
Richard Webb, MD of UK financial lines & specialist liability, Pen Underwriting, offers us a window into his life outside of insurance covering politics podcasts, a love of indie music and completing an Olympic distance triathlon.
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.
The growing role for brokers in fighting insurance fraud
With reports of fraud escalating in terms of value or number, the role of brokers in combatting these crimes should not be underestimated. Edward Murray looks at the controls, validation tools and processes being implemented to support both detection and prevention.
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