PBSH seals record delegated binding deal

PBS Holdings (PBSH) has announced a strategic partnership with two major insurers - a deal thought to be the largest delegated binding authority of its type in the UK market.

PBSH has agreed upon a major underwriting capacity deal with Axa, Royal & Sun Alliance (RSA) and Primary Insurance Company (PICL); which is expected to yield £120m gross written premium (GWP) in its first year of operation and £500m GWP over the period of the next three years.

Jonathan Davey, chief executive officer at PBSH

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