premium finance
Bexhill UK partners with Acturis on premium finance
Bexhill UK and Acturis have partnered in a full API integration of Bexhill’s premium finance system and Acturis’s insurance broking system.
Former Premium Credit bosses resurrect ‘tifco’ brand for new venture
The Insurance Finance Consultants (tifco) has formally launched today with the aim of supporting all firms, including brokers, that offer insurance premium finance.
Aviva’s Blanc: UK insurance industry needs to start planning for a post-Flood Re world
Amanda Blanc, group CEO at Aviva, claimed the UK must be cautious about what happens in a post-Flood Re world come 2039.
Biba publishes guide to help members demonstrate fair value when offering premium finance
The British Insurance Brokers’ Association has launched a guide for members that arrange premium finance for customers.
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
ABI stops short on voluntary premium finance cap as it sets out five principles
The Association of British Insurers has stopped short on a voluntary industry-led cap on premium finance as it set out five principles aimed at helping consumers manage the cost of paying-monthly for motor insurance.
FCA’s Brewis warns MPs premium finance action could have ‘waterbed effect’ for consumers
The Financial Conduct Authority’s insurance director Matt Brewis has raised the concern that taking action on premium finance would have little or no impact on the price of motor cover.
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.
Fair value not a Trojan Horse for price regulation, says FCA boss Nikhil Rathi
The onus on firms to satisfy themselves about fair value under the Consumer Duty is “not a Trojan horse for price regulation”, according to Nikhil Rathi, CEO of the Financial Conduct Authority.
Premium finance brings businesses benefits beyond instalments
A new survey, conducted by Insurance Age and Close Brothers Premium Finance, reveals that while most commercial brokers discuss premium finance with their clients, they do not always highlight other key advantages beyond spreading the cost. Rachel Gordon…
Giles Offen joins Premium Credit as chief product and technology officer
Giles Offen has been named chief product and technology officer at Premium Credit, where he will oversee digital product design, platform management and provision of insights.
Review of the Year 2023: Investec Premium Finance’s Osian Rees
Osian Rees, head of Investec Premium Finance, reflects on why affordability and access to insurance cover could be vote-winners at the next election, and why brokers must ensure their supplementary costs align with fair value principles.
Review of the Year 2023: Macbeth’s Paul Macbeth
Macbeth Insurance Brokers CEO Paul Macbeth hails its success at the Hedron Networks awards and admits to being surprised – as much as you can be these days – by Romero’s acquisition.
Premium finance lenders ready to support brokers hit by BNP Paribas pullout
The leaders of broker-facing premium finance providers have reassured they can move quickly to help brokers affected by BNP Paribas Personal Finance’s decision to exit in 2024.
BNP Paribas to exit premium finance in 2024
BNP Paribas Personal Finance will leave the premium finance market on 31 March 2024, Insurance Age can reveal.
Review of the Year 2023: Brown & Brown Europe’s Chris Sime
Chris Sime, group markets director at Brown & Brown Europe, reflects on why AI is the 'new black in insurance' and his surprise at the amount of broker M&A still being done
FCA not banning commission for brokers, says Sheldon Mills
The Financial Conduct Authority is not looking to ban or set commission levels, but brokers have more work to do in valuing their services, according to executive director of consumers and competition Sheldon Mills.
Premfina ‘on track to disrupt’ premium finance market amid staff doubling
Premfina is ‘on track to distrupt’ the premium finance market after investment flowed into the insurtech, according to sales and marketing director Paul Trail.
Premium finance market warned of serious consequences amid latest FCA concerns
The premium finance market is being warned it faces serious regulatory consequences after the Financial Conduct Authority issued yet more concerns about industry practices.
FCA hammers GAP insurance as it issues general warning on high commission levels
The Financial Conduct Authority has written to insurers, calling on them to take action, as it released the latest set of fair value data and again brought the spotlight onto the issue of high commission levels.
Insurance sector facing FCA ‘big bombshell’ on commission model – Michael Sicsic
Insurance is facing a ‘big, big bombshell’ on commissions, as the shockwaves reverberate from the Financial Conduct Authority’s property buildings’ investigation, according to regulatory consultant Michael Sicsic.
Turnover and profits soar at Avantia in 2022
Home insurance specialist Avantia achieved double-digit growth in turnover and profits in 2022.
Axa brokers to get customer boost with Premium Credit digital system
Axa Commercial has partnered with Premium Credit to offer customers a digitally enhanced payment by instalments system, Insurance Age can reveal.