Premium finance lenders ready to support brokers hit by BNP Paribas pullout

providing-support

The leaders of broker-facing premium finance providers have reassured they can move quickly to help brokers affected by BNP Paribas Personal Finance’s decision to exit in 2024.

Insurance Age revealed earlier this week that BNP Paribas will leave the market on 31 March next year.

Bexhill UK CEO Ravi Takhar told Insurance Age: “We can set someone up in less than 24 hours. We can move very quickly to help brokers with an alternative facility.”

Takhar said he was sad to hear of liquidity being withdrawn from the market.

“When one lender pulls out it is an issue for the market,” he assessed. “There is a risk here because there is only a limited number of lenders.”

Adding: “The

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 copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

JMG buys Madoc & Rhodes

JM Glendinning Insurance Brokers has purchased Birmingham-based Madoc & Rhodes, adding to its growing portfolio.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: