Close Brothers Premium Finance
Q&A: Close Brothers Premium Finance leaders Wallace and Hayes
Close Brothers Premium Finance commercial director, Colin Wallace, and sales director Elliott Hayes, stress the firm’s ‘pro-broker’ message as they tackle the changes over the past 18 months, shrinking after the partial exit from personal lines and the developments they believe will deliver growth for all parties as the business focuses in on commercial with the run-off almost complete.
Video Q&A: Shaun Hooper, Close Brothers Premium Finance
After a period of regulatory scrutiny and market change, what’s next for premium finance providers, brokers and customers?
FCA issues another Close Brothers clone warning
The Financial Conduct Authority has warned that fraudsters have been impersonating Close Brothers trying to scam people with a clone of the authorised firm.
PremFina grows broker network by a third
PremFina has reported it grew its broker network by a third last year citing three “major” partnerships in the final quarter alone as it reached £1.1bn in contracted volumes.
Close Brothers reverses premium finance commission disclosure requirement
Close Brothers Premium Finance has u-turned by cutting the need for brokers to get customers’ explicit consent to commission arrangements.
Premium Credit adds three more brokers on back of Close pull out
Premium Credit has struck deals with Riviera Insurance, Principal Insurance, and Bedford Insurance Group after Close Brothers decided to pivot away from personal lines to commercial.
Premium Choice moves from Close Brothers to Premium Credit
Top 100 UK Broker Premium Choice has signed a multi-year deal with Premium Credit moving away from Close Brothers Premium Finance.
Darling returns to premium finance with Keys move
Keys Premium Finance has appointed Bob Darling as non-executive director, marking his return to the sector having previously been a director at Close Brothers and managing director of Kaupthing Singer & Friedlander Premium Finance.
Premium Credit open for business after Close Brothers broker and personal lines cuts
Premium Credit has confirmed it is “there to support any distribution partners”, following competitor Close Brothers pulling back on personal lines premium finance lending and exiting up to 120 broker relationships.
Close Brothers to cut broker relationships in personal lines pull back
Close Brothers has confirmed it will exit some broker relationships over the next year as it pivots away from personal lines premium finance to focus on commercial business.
People Moves: 28 April – 2 May 2025
Keep up to date with the latest insurance industry personnel moves.
People Moves: 17 – 21 March 2025
Stay in the loop with the latest insurance personnel moves.
Premium finance: industry welcomes Supreme Court appeal and hopes for clarity
As evidenced by differing actions by premium finance specialists in recent months there are differing views in the market, but the hope remains that a Supreme Court case on motor finance, to be heard on 1-3 April, can help to bring clarity.
Close Brothers to launch digital commission disclosure consent solution
Close Brothers Premium Finance has announced plans to launch a new digital solution to help brokers fulfill their commission disclosure consent obligations.
No change to Premium Credit disclosure arrangements
Premium Credit is not asking distribution partners to make any changes to existing customer journeys after reviewing the implications of a legal ruling for commission disclosure in motor finance.
Close Brothers bringing in written consent rule on commercial broker premium finance commission
Close Brothers will require consent from commercial customers for broker commissions for premium finance as of Monday 25 November.
RBC warns of potential £250m premium finance hit to Close Brothers
If a recent court ruling on motor finance litigation is upheld and spreads to premium finance Close Brothers could suffer a £250m hit, equity analysts RBC Capital Markets have warned.
Why the future for brokers is data-driven
The latest Insurance Age Pulse survey explores how brokers are using data insight to guide business strategy, and reveals why more now see data as an essential factor for growth. Rachel Gordon reports
Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
Following a recent survey of commercial brokers, Close Brothers Premium Finance managing director Shaun Hooper dissects the findings and offers insights into what his firm is doing to help intermediary clients avoid underinsurance.
Cost-of-living crisis pushes up premium finance demand
New research has found almost 60% of UK brokers agreed the proportion of commercial lines clients choosing premium finance to pay for their insurance will increase over the next 12 months. Rachel Gordon reports
Close Brothers posts more than £1bn premium finance book
Close Brothers Group has reported “record” first half levels in its premium finance book of £1.04bn for the six months to 31 January 2024.