In Depth: High net worth – is prestige motor starting to lose its appeal?
Despite Covéa’s recent withdrawal from the executive motor space, Martin Friel discovers there is still interest in insuring HNW wheels.
The message from Verlingue’s head of private clients, Jon Bethell, when asked why, just weeks after Covéa announced its departure from ‘executive’ HNW motor, he had joined a broker to drive its own HNW offering forward, was: “Advance towards the sound of gunfire!”
He adds: “I don’t think it’s bad timing, especially in the HNW market. People will always own houses and cars, so the market isn’t really going to change.”
Advance towards the sound of gunfire! Jon Bethell on joining a broker to
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