The managing general agent (MGA) - part of Sagicor at Lloyd's - mistakenly terminated its relationship with brokers in the midst of an internal client money legal review which had identified a "potential issue".
Any broker which SU worked with that didn't have its own client money permission therefore had its agency cancelled with 30 days' notice.
However, SU now insists that following legal advice, there are "no issues" around its client money permissions with regards to trading and is now "re
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- Zurich cuts scheme contract with Fleet UK
- Ardonagh shutters Swinton's advised commercial business
- FSCS set to compensate Alpha Insurance latent defect insurance policyholders
- Allianz appoints branch leaders
- THB pledges support for Fleet UK
- Latest Ogden rate change will cost the industry over £160m
- Broker Expo 2019: Q&A with Aviva's Dave Carey