Specialist insurer Ecclesiastical has announced that it is to leave the UK broker motor markets across its Ecclesiastical and Ansvar brands, following a review of its UK motor business.
The move will affect Ecclesiastical’s fleet and motor schemes books.
The insurer will now work with individual brokers to manage the transfer of existing motor schemes and the run-off of fleet business.
Steve Wood, Managing Director of Ecclesiastical’s UK business, explained that the firm’s real strength as a business lay in underwriting.
Wood went on to say that in the sphere of underwriting the firm had a clear competitive advantage and sustainable returns but that the UK broker motor market was unfortunately not for them.
Wood concluded that the withdrawal from the broker motor market was a big decision for the firm, but the right one.