premium finance
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.
People Moves: 28 November - 2 December 2022
Stay updated with the latest personnel moves in insurance.
Market Moves - November 2022
The latest recruitment news from around the industry.
Blog: Lending through the cycle helps brokers to support their clients
Given the economic uncertainty, customers’ ability to preserve cash is likely to drive demand for insurance financing option argues Elliott Hayes, director of sales, commercial lines, Close Brother Premium Finance.
FCA threat of premium finance crackdown rises amid ‘fairness’ concerns
The Financial Conduct Authority has a list of concerns about premium finance, with two of its most powerful figures in general insurance expressing their unease over issues with the product.
GI firms need to step back and consider what to do differently under Consumer Duty, says FCA
The insurance sector is well placed ahead of the implementation of new Consumer Duty rules but “there will be changes needed”, according to Daniel Hurl, head of market analysis and policy, insurance, at the Financial Conduct Authority.
Trail: Premfina remains ‘very, very, ambitious’ despite £9.8m loss
Premfina Limited posted a £9.8m loss in its reserves last year, but has pledged to continue spending in its bid to become a major force in the insurance premium finance sector.
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
Blog: Partnership builds the resilience brokers need to navigate a challenging world
A recent Close Brothers Premium Finance survey highlighted a host of new issues brokers are facing that did not exist two years ago. To improve resilience in the face of these challenges Seán Kemple, managing director of premium finance, argues…