RSA pays £3m to take control of PCS.
Royal & SunAlliance has paid around £3m for Independent Insurance's commercial loss adjusting arm Pr...
Royal & SunAlliance has paid around £3m for Independent Insurance'scommercial loss adjusting arm Property and Casualty Services.
RSA took control of PCS's 300 claims adjusters from 9 July and said the
acquisition will ensure continuity of claims handling for Independent's
customers. The insurer-giant is believed to have beaten off interest from
Axa and CGNU.
Mark Batten, partner of PricewaterhouseCoopers, the provisional
liquidators of Independent, said: "We achieved a fair value for the
business
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Commercial
Adler Fairways buys Mason Owen Financial Services
Adler Fairways Insurance Group has bought Liverpool-headquartered Mason Owen Financial Services expanding into the North and East of England, Insurance Age can reveal.
Meet the MGA: Lumara
Having helped set-up one MGA in Arista two decades ago, Lumara CEO David Aslin explains why he is going again, seeking to be a top three partner with its brokers through a combination of expertise, flexible products and agency exclusivity.
Jensten buys largest Coversure franchise in Midlands deal
Jensten Group has signed up to buy Coversure Midlands, the largest in its franchise network.
Gallagher partners with HSBC bank in business insurance launch
Gallagher is working with HSBC UK providing insurance services to the bank’s commercial clients, the pair have confirmed.
Simply Business adds MGA to panel expanding its landlord offering
Simply Business has partnered with Mission-backed commercial and residential property managing general agent Ventis, to expand its landlord insurance offering.
MGAs increasingly important in placing niche fleet, according to broker survey
Waste, hazardous and recycling fleets are the hardest commercial motor segment to place due to limited market capacity, according to 71% of brokers surveyed by Direct Commercial.
Podcast: Reid and Clegg present Double Indemnity – episode 12, Cameron Specialty’s Tom Kirkland
MGA entrepreneur Tom Kirkland joins Stuart Reid and Toby Clegg for the latest episode of the Double Indemnity podcast series.
Jason Storah on Aviva walking away on pricing, but not from brokers
Aviva’s commercial book shrank year-on-year, but only “marginally” in the heartlands of brokers’ traditional business, UK and Ireland general insurance CEO Storah told Insurance Age.