MCE Insurance
FSCS steps in for failed Gibraltar insurer Premier Insurance
The Financial Services Compensation Scheme has stepped in to protect over 16,000 policyholders of failed insurer Premier Insurance Company Limited as it highlighted the identity of the Gibraltar-based motor provider.
MCE administration extended for a year
The administrators of MCE Insurance have revealed a 12-month extension to the process which is now set to close in July 2025.
Interview: Sabre CEO Geoff Carter
Sabre boss Geoff Carter tells Insurance Age about the upsides for brokers from its IHP rollout, growing in motorbikes after the collapse of MCE and profitable expansion plans in taxi.
FSCS details £23m MCE Insurance Company recovery from £90m hit
The Financial Services Compensation Scheme has secured £23m from the estate of Gibraltar-based Green Realisations 123, formerly known as MCE Insurance Company, after paying out approximately £90m in compensation to the firm’s customers.
Sabre posts record GWP as profits bounce back in 2023
Motor specialist Sabre grew gross written premiums by 31% to £225.1m last year and improved its combined operating ratio to 86.3% from 93.4%.
MCE administrator report reveals £35m HMRC claim as totals soar
The administrator of MCE Insurance has received £155.7m in unsecured claims from trade and expense creditors with the figure ballooning from £32.3m, the latest progress report has revealed.
News analysis: What next for the motorbike market after Axa’s withdrawal?
Axa’s withdrawal from the motorbike market next month has again raised questions about a potential capacity crunch for those brokers insuring two-wheelers. Saxon East explores what effect this and other trends are having on the sector.
MCE has £9.1m surplus to pay creditors, according to former CEO
One of the two shareholders and former CEO of failed specialist motorcycle broker MCE, Julian Edwards, has informed the administrators that he understands there to be a surplus of £9.1m that could be used to pay creditors.
MCE had £5.2m loss before collapse and HMRC now one of biggest creditors
Broker MCE was carrying a £5.2m Ebitda loss before its collapse, leaving HM Revenue & Customs with an estimated £828,844 claim, according to the administrator’s report.
Motorbike market is stable despite MCE downfall – brokers
Motorbike brokers believe the market is stable despite MCE’s broking business entering administration on Monday.
FSCS broker pot compensation costs drop to £2m
The Financial Services Compensation Scheme paid out £2m in general insurance distribution compensation costs in the year ended 31 March 2023 – a £5m drop on the previous 12 months.
FCA names MCE administrators
The Financial Conduct Authority has confirmed that Mark Holborow, Vincent Green and Steven Edwards of Crowe UK are the joint administrators of MCE Insurance, as appointed by the company’s directors.
Motorbike broker MCE enters into administration
Motorbike broking specialist MCE Insurance Limited entered into administration last night, it has been confirmed.
Profits down two-thirds at Sabre in 2022
Sabre Insurance has reported a 66.5% drop in profit after tax to £10.1m for 2022, as the combined operating ratio deteriorated to 96% from 79.4% in 2021.
Market Moves - November 2022
The latest recruitment news from around the industry.
Alan Atkins new CEO at MCE Insurance
MCE Insurance has a new CEO, with Alan Atkins taking up the mantle and former CEO Julian Edwards stepping into role of executive chair.
Backpage - September 2022
The lighter side of the world of insurance.
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