Brightside secures £100m capacity deal
Brightside Group has confirmed that a new capacity deal with an unnamed re-insurer will deliver £100m of extra capacity to its Gibraltar-based underwriting firm Southern Rock Insurance Company.
Southern Rock is the main insurance capacity supplier to the Bristol-based broker's eCar brand. Brightside claims the new deal will allow for a significant expansion of business in 2012.
The directors of the group said the agreement reflected the underwriting performance of the eCar brand and was indicative of the success of its sophisticated approach to eliminating fraud and customer application issues in a difficult but hardening market place.
The eCar brand was recently at the centre of a
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