premium finance
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.
Premium Credit rolls out service to help brokers win over FCA on fair value
Premium Credit has rolled out a benchmarking report service that can help brokers with their fair value assessments, remaining compliant at a time of intense regulatory focus on premium finance and the credit sector.
Premium Credit makes 54.7% profit margin in ‘strong’ 2022 results
Premium Credit CEO Tara Waite said the firm had a ‘strong’ set of results after it continued to expand even further on its profit margins.
Brokers face ‘fair value’ dilemma on premium finance amid interest rate rises
Brokers are faced with a dilemma as interest rates rise. The Financial Conduct Authority’s demand for them to offer ‘fair value’ products is at the forefront of their minds when they decide how to deal with the customer. Saxon East reports.
Premium Credit offering non-recourse solution for partners – Mark Coffey
Premium Credit has a non-recourse borderaux solution that remains available for interested partners, says personal lines and e-trade director Mark Coffey.
Close Brothers premium finance drops 2%
Close Brothers has revealed a 2% fall in its premium finance book to £990.1m in its latest set of results.
Blog: Empowering brokers, enhancing affordability - the power of premium finance training
Allen Seldon, director of product and proposition at Close Brothers Premium Finance, explores how, with the right tools and training, premium finance can help boost broker revenue by enhancing affordability for customers.
Close Brothers Premium Finance recruits ex-Complete Cover boss Shaun Hooper as MD
Shaun Hooper has been appointed managing director at Close Brothers Premium Finance succeeding Seán Kemple who is moving to a broader CEO role.
FCA opens client support consultation and reiterates need for brokers to treat customers fairly
The Financial Conduct Authority has opened a consultation on protections for insurance customers in financial difficulty proposing to update guidance introduced during the Covid-19 crisis.
Compass Network partners with PremFina
Compass Network, part of Bravo Networks, has partnered with premium finance provider PremFina with a three-year contract.
Video Q&A: Close Brothers Premium Finance on how brokers can grow business in challenging times
Seàn Kemple of Close Brothers Premium Finance discusses the factors affecting business growth in the current market and the opportunities afforded by premium finance
Blog: Helping customers budget better as cost-of-living crisis bites
Premium finance is not just a useful cash flow tool for clients. It can also help brokers boost customer retention and plug insurance gaps, says Seán Kemple, managing director of Close Brothers Premium Finance
News analysis: What next for brokers amid FCA premium finance crackdown?
The Financial Conduct Authority’s premium finance crackdown threatens a significant revenue earner for brokers. Big players with strong balance sheets are making moves
Editor's letter: Broker offshoring - will it reach a full scale ‘Boom’?
Writing about insurance at the beginning of the 21st century, offshoring was very much in vogue.