HSBC Insurance (UK) sold for £68.5m
In a statement HSBC explained that the UK-based motor insurance company was put into run-off in 2009 and that the sale completed HSBC's exit from underwriting motor insurance in the UK.
The signed deal is expected to complete in the third quarter of 2011, subject to regulatory approvals.
Bruce Howe, CEO of HSBC Insurance in Europe and the Middle East, said: "HIUK has been in run-off for over a year and we are very grateful for the dedication of our staff which has enabled a successful exit from
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 [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] 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 [email protected]
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 [email protected]
More on Insurer
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Barbon Insurance Group bought by PIB
- Kingfisher hits Fresh sellers with allegations of deceit
- SME specialist Ballantyne Brokers launches
- Broker Exchange: Regulation deluge impacting some brokers’ survival chance
- ERS solidifies move into commercial with Lloyd’s deal
- Geo Underwriting moves into the captive market with latest acquisition
- Brunel Insurance Brokers buys Coventry broker