Experts predict the regulator's proposals to ban dual pricing will have "unintended consequences" and lead to reduced competition for new business, but agree the measures are a positive outcome for consumers.
Regulator to collect data from any firms setting prices, including brokers, as it calls on the industry to co-operate to tackle the loyalty penalty.
The regulator outlines proposals for a “significant reform” of the motor and home insurance markets and slams "complex and opaque" pricing practices.
The administrator’s progress report said the business was later sold to One Sure for £75,000 as fitness of former directors is investigated as statutory measure.
Government body says Ardonagh and Bennetts have five working days to address the CMA’s concerns, after it found that the merged company would face “only little competition” from other much smaller motorcycle insurance specialists.
Business also posts pre-tax loss of £55.5m for the first six months of 2020.
Organisation says it is set to make 50 redundancies as part of a transformation programme and in response to "significant budget challenges" arising from Covid-19.
Profit for the business, formerly known as Eldon, slipped to £5.0m from £6.4m the previous year.
The three potential buyers have an additional four weeks to make a bid for the AA as the motor specialist says discussions are progressing.
The business was sold to Sun Capital last year. Since then it has secured a £1m development loan from Close Brothers and its investors has pumped £7m into Mulsanne to help with solvency.
Half year results highlight how motor provider has been affected by coronavirus as profit increases and COR improves.
MD Julie Gibbons discusses the broker's rebrand, acquisition plans, opening up after lockdown and how the business has ended up with a female majority in management roles.
Broker says it is recruiting across its three offices in East Winch, King’s Lynn and Norwich.
ACSO's Matthew Maxwell Scott says claims numbers cannot continue to be cited as the reason for increasing car insurance premiums and urges the insurance sector to cooperate to improve the customer claims journey.
Group CEO Paul Moors chats to Insurance Age about the broker’s Watson Laurie deal, future growth plans and cutting ties with Gefion.
The former Ageas boss takes over after Blanc's move to become Aviva CEO.
CFO Mark Mugge says specialist motor broker is gearing up to make acquisitions and predicts the personal lines sector will see rate increases as a result of the pandemic.
In the run up to the 2020 UK Broker Awards Insurance Age is profiling all the shortlisted firms and individuals, with today’s focus being The Young Broker of the Year.
2020 COR for the first half of the year was 83.0% compared to 92.3% on H1 2019.
In the run up to the 2020 UK Broker Awards Insurance Age is profiling all the shortlisted firms and individuals, with today’s focus being The Personal Lines Broker of the Year.
Ardonagh’s £26m purchase of the motorcycle specialist approved by the FCA, but the ongoing CMA inquiry looking at how the transaction impacts competition in the market continues.
The provider reported a result after tax of £22.8m compared to £45.4m in H1 2019.
The deal values Hastings at around £1.66bn as the provider also publishes half year results.
The motor insurer said it had continued focus on a strategy of prioritising underwriting profitability over volume whilst reflecting Covid-19 impacts using a data-driven pricing approach.